While there have been rumors regarding this subject and even a spy video, nothing was official until now. According to Automotive News Europe, Ferrari CEO Louis Camilleri confirmed on an earnings call late last month the Italian firm will unveil a new mid-engine supercar with a hybrid V8 powertrain sometime later this year. Another source claims the unnamed new model will feature a V8 gasoline engine paired to an electric motor. Consider the now discontinued LaFerrari as only the beginning of a new powertrain era for Ferrari.

We can also confirm, thanks to Ferrari chief technology officer Michael Leiters, the new hybrid V8 model will be more powerful than the 488 Pista, which produces a total of 710 hp and 568 lb-ft of torque from its 3.9-liter twin-turbocharged V8.

At the same time, Camilleri said it will also be more profitable than the front-engined 812 Superfast, which is powered by a naturally aspirated V12. Deliveries for the new supercar are set to get underway about a year from now. Given that time frame, wouldn't it make sense to debut the new Ferrari at Geneva next month? Yes, but it's not going to happen. Instead, Ferrari will host an unveiling event specifically for the supercar at a currently unknown later date and location. The fact that Ferrari is expanding hybrid technologies beyond limited edition hypercars is a big deal.

Like the LaFerrari, we fully expect to see an updated version of the Formula 1-developed Kinetic Energy Recovery System (KERS) that was also utilized for the LaFerrari. As Ferrari's second-generation hybrid model, this 488 Pista killer will also be more fuel efficient and will be a "regular lifecycle" model rather than a limited edition. It will also be just the start of more hybrid Ferraris.

Camilleri also re-confirmed that 60 percent of Ferrari's lineup will have hybrid variants by 2022. A full-on electric Ferrari is also coming, but not until sometime after 2022. Before then, the Purosangue SUV will debut and initial reaction to the lucky few customers who have seen it has been very positive, according to Camilleri.

And speaking of electrified technology, Ferrari has already been developing this technology that will soon also be featured on the Maserati Alfieri, which will replace the aging GranTurismo in the near future as well.