Italian luxury supercar maker Ferrari unveiled the new Purosangue, and said prices will start at €390,000 ($390,000).

Ferrari said deliveries of the four-wheel drive, four-door machine will start in the 2nd quarter of 2023 in Europe and in the 3rd quarter for the U.S.

“Purosangue” means “thoroughbred” in English.

Ferrari will limit annual output to about 3,000.

The Purosangue will be powered by a new 6.5 liter, V-12 engine producing 715 hp at 7,750 rpm through an 8-speed automatic gearbox.

The Purosange will compete with such exotic SUVs as the Rolls Royce Cullinan, Bentley Bentayga, Lamborghini Urus, and Aston Martin DBX.

Ferrari was slow to move into the popular SUV market and doesn’t refer to the Purosange as an SUV or a crossover. Ferrari owners felt an SUV wasn’t the right kind of vehicle to carry the prancing horse badge.

Asked in a 2016 financial press conference with financial analysts if Ferrari would ever make an SUV, the then Ferrari CEO, the late Sergio Marchionne said "You have to shoot me first.”