(Bloomberg) -- Ferrari NV unveiled a convertible version of its entry-level coupe in the first of four new model debuts the company has planned for this year.

The Roma Spider’s roof can be opened up in 13.5 seconds while driving up to 60 kilometers (37 miles) per hour, Ferrari said Thursday. It’s the carmaker’s first front-engine soft-top convertible since the 1969 365 GTS4.

Ferrari has hiked prices and benefited from its wealthy buyers being less acutely affected by soaring inflation and rising interest rates. In preparation for its shift to battery power, the manufacturer is expanding its historic factory in northern Italy to make room for a third production line that will be dedicated to hybrid and electric vehicles.

Chief Executive Officer Benedetto Vigna laid out plans last year to spend about €4.4 billion ($4.7 billion) to develop fully electric and plug-in hybrid models that will make up 60% of its portfolio by 2026.

“Electrification is a new way to provide our customers a unique driving experience, and I’ve no doubt that our electric powertrains will give clients the same thrills of combustion engines,” Vigna told Bloomberg News in an interview last month.

Read More: Ferrari’s CEO Moves Fast Like Musk on Path to EVs

(Updates with soft-top context in the headline and second paragraph.)

©2023 Bloomberg L.P.