Maserati is planning to launch its first electric car in 2020, according to AutoCar.
The luxury automaker, which is part of Fiat-Chrysler group, confirmed to the car magazine that it will make a battery-powered version of its Alfieri concept car by the end of the decade. The Italian car manufacturer also said that it plans to launch a version with a V6 engine in 2019.
Maserati first unveiled it Alfieri concept car in March 2014 at the Geneva Auto Show. The car was designed to pay tribute to Maserati’s racing heritage, which is why it boasts form and design elements similar to Maserati’s classic sports cars.
There’s no word yet on what kind of range the vehicle will have, but considering other sports car makers like Porshe and Aston Martin plan to launch electric vehicles with ranges exceeding 200 miles per charge by 2020, it’s likely the upcoming Alfieri will have a similar range.
Maserati joins a long list of automakers planning to launch at least one fully-electric, long-range vehicle by 2020. Yet, it’s still unclear how much demand there really is for battery-powered cars.
Currently, all-electric cars make up less than 1% of all new car sales in the US.
Automakers are still pursuing the technology, though, partly because federal regulations require them to do so.
By 2020, federal law requires each car company’s fleet to have an average fuel consumption of 42 mpg. By 2025, that number will increase to 54.2 mpg. Car companies are opting to build electric vehicles, which consume zero fuel, so that they can meet these federal requirements.
Maserati did not immediately respond to Business Insider’s request for comment.
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