First Maserati EV to Have Major Power

Maserati on Thursday announced its plan for switching to electric vehicles, with a goal of being out of the internal-combustion engine business by around 2030. The Italian automaker plans to offer an electric version of every model by 2025, CNBC reports, a product lineup labeled Folgore. That timetable is on par with most other major automakers. The company didn't reveal prices for the new models; its existing vehicles run from about $78,000 to more than $200,000. But Maserati announced its debut all-electric model, which it intends to make a splash.

To increase speed, the GranTurismo coupe will be built of lightweight material and use powertrain technology built on Formula E, per the Verge. Top speed is projected at almost 190mph. It's slated for more than 1,200 horsepower, able to go 0-62mph in less than 3 seconds. The GranTurismo is to be available in 2023. The next models up are scheduled to be the all-electric Grecale midsize SUV and a Grancabrio GT car, the company said. CEO Davide Grasso called the switchover to electric a "defining moment" for Maserati. (More Maserati stories.)