The berlinetta runs on a 3.9-liter V-8 engine generating 660 horsepower and 560 pound-feet of torque. Boasting a top speed of 205 mph, the 488 GTB can hit 60 mph in a mere 3 seconds.
"Its response times, nimbleness and on-the-limit driving guarantee a unique sense of exhilaration and unparalleled driving pleasure," Ferrari described in a statement.
Of course, drivers won't be employing those tricks on public roads--the 488 GTB is street-legal and "provides track-level performance that can be enjoyed to the full even by non-professional drivers in everyday use," according to the automaker.
The 488 GTB also features new strides in aerodynamics after Ferrari engineers took off extra weight and resistance. It sets a new record for efficiency in a production Ferrari and features an aerodynamic underbody for further reduction in drag.
For the interior, the car gets new satellite control clusters, angled air vents and instrument panel to create the feeling "that the cockpit is completely tailored around the driver," the automaker said.
When it comes to technology, the supercar's infotainment display screen has redesigned graphics and interface, and the 488 GTB's key allows for keyless starts.
Ferrari hopes the supercar will impress auto enthusiasts and investors alike as the automaker prepares to be listed on the New York Stock Exchange, the Wall Street Journal reported. While the Italian luxury carmaker hasn't yet announced pricing, it will likely be in the six-figure range.
Fiat Chrysler CEO Sergio Marchionne aims for a premium valuation for Ferrari that would put it alongside luxury-goods companies, according to the Journal. Ferrari limits production to around 7,000 cars per year.