When you hear the term PHEV (or P-HEV as Sam Wallace likes to say), you'd assume that we're talking about an eco-warrior such as Mitsubishi's Outlander or a Hyundai Ioniq.
No, today we're using the term because Ferrari recently unveiled the SF90 Spider, which comes to us as potentially the best-looking PHEV that the world has ever seen.
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Revealed earlier this year as Ferrari's most powerful car of all time, the fixed-roof SF90 Stradale made waves for also being the brand's first-ever plug-in hybrid, and now it can lose its roof without assistance.
Just like the car itself, the Spider's roof is very quick. Ferrari has claimed that the hardtop can be retracted in just 14 seconds, and can be used on the move. The brand also notes that it is significantly smaller than most other retractable hardtop systems.
Unsurprisingly, this makes the Spider about 75kg heavier than the Berlinetta, but if buyers opt for the optional Assetto Fiorano pack, this can be shaved down by around 20kg.
Aside from the roof, the rest of the car has remained the same, with its twin-turbo V8 engine that's paired with a plug-in hybrid system. Combined, this system makes a hefty 715kW/900Nm.
This is enough to propel the PHEV to 100km/h in just 2.5-seconds before it tops out at 340km/h. So, in other words, it's painfully fast.
Pricing is yet to be released for this new model, but considering the regular SF90 starts at $905,700 here in New Zealand, don't expect to be getting much change out of $1 million when it lands.