Aston Martin chief executive Andy Palmer has revealed that the British company will launch an all-electric variant of the Rapide sedan as early as the end of 2017.

Palmer revealed the news while speaking with Bloomberg in London recently. Confirmation of an electric Aston Martin Rapide comes on the back of Palmer’s belief that in the future, the entire automotive industry will shift to electric cars.

“We’re talking about an electric Aston Martin with between 800 and 1,000 horsepower — imagine having all that torque on demand,” Palmer said in relation to the new Rapide variation.

“We’re a V-12 engine company. Project that into the future. Do I go the way of the rest of the industry and downsize the engine? Do I see Aston Martin with a three cylinder engine? God forbid. You’ve got to do something radical. Electric power gives you that power. It gives you that torque.”

Importantly, Musk revealed that the electric Rapide and any other future electric models from the company won’t be targeted towards Tesla’s Model S, Model X and upcoming Model 3. Instead, the company will remain a luxury automaker and equip and develop its electric models accordingly.

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