MILAN (Reuters), – Ferrari (NYSE)’s new high-octane Daytona SP3 ends a long wait for lovers of the Icona series cars. However, it might not be appreciated by people trying to reduce carbon emissions.

Daytona SP3’s 840-horsepower, V12-aspirated, mid-rear-mounted, 12-cylinder engine (V12), pays tribute to Ferrari 330 P3/4, who dominated the 24 Hours of Daytona 1967.

Ferrari’s latest Icona was presented on Saturday by Benedetto VIgna, the new chief executive of Ferrari. This sets the Italian luxury sportscar maker on its way to total electrification.

Vigna is an industry veteran and was elected CEO of Ferrari in September. Ferrari promised that it would deliver the first fully electric car in 2025.

Ferrari enthusiasts have waited more than three decades for their second Icona since the Monza of 2018.

Ferrari’s Iconas cars are a special series that were produced in limited quantities. They are reserved for private collectors of super wealthy status and are inspired from legendary Ferrari models.

Ferrari is recognized by the ‘Prancing Horse” logo and its red racing cars. It already offers three hybrid electric models, which includes this year’s 296 GTB sportscar.

Ferrari is now limiting the use of its V12 engine for certain series models. Iconas accounted for just 2%, and V12 cars for 12%. The combined 1,600 V12 812 Competizione B and 812 Competizione C models will be sold. This year’s launch price was just over half a million Euros ($564,000).