Italian luxury automobile manufacturer Lamborghini said they are going electric.

The company said they would launch its first hybrid series production car in 2023, and by the end of 2024, each of the models will be offered a plug-in hybrid vehicle.

"Performance and the authentic Lamborghini driving experience will remain the focus of the company’s engineers and technicians in developing new technologies, and the application of lightweight carbon fiber materials will be crucial in compensating for weight due to electrification," Lamborghini said in a news release.

Lamborghini added that by 2025, they plan to release its first fully electric luxury automobile and reducing its CO2 emissions by 50%. The news comes as part of the EU’s mandate to reduce carbon emissions by at least 55% by 2030.

The company said they plan to invest $1.8 billion as they transition to hybrid, which is the largest investment in Lamborghini’s history.