Despite Sergio Marchionne's claim in January that Ferrari will be the first on the market with an electric supercar, don't expect to see such a model from the Prancing Horse before 2023.

The Ferrari chairman told reporters attending the company's annual meeting this month that Ferrari won't launch an electric car until after its new five-year business plan is complete.

The new business plan will be announced by Marchionne in September, Automotive News (subscription required) reports.

Sergio Marchionne

Sergio Marchionne

Marchionne was specifically talking about Tesla when he said Ferrari will be first with an electric supercar, though Tesla aims to launch its second-generation Roadster by as early as 2020. The car, which was revealed last year, promises to accelerate quicker and hit a higher top speed than any Ferrari road car to date.

Italian design house Pininfarina also plans to launch an electric supercar in 2020 and Ferrari has already lost the electric supercar race to Rimac, which at March's 2018 Geneva auto show unveiled a second-generation electric supercar, the C_Two.

Ferrari will focus on plug-in hybrid technology in the interim. The company is developing a plug-in hybrid powertrain that will debut in an unspecified model, likely the 488 successor, next year. The powertrain or some variation of it will then make its way into most models in the Ferrari lineup, including the company's planned SUV.