Luxury automotive company Ferrari has revealed their new 488 Spider. The incredibly fast model is powered with a 3.9-liter, turbocharged V-8.

Although the Spider features the same engine as the Ferrari 488 GTB, it’s more powerful with a maximum torque of 561 ft-lb at 3,000 rpm, and also produces lower emissions. The new Ferrari also has a reduced throttle response time of only 0.8 seconds.

The Spider’s aluminum roof received a major upgrade and is now able to fully retract in just 14 seconds. It’s also 55 pounds lighter than traditional soft tops and able to fold in two overlapping sections to lay flush onto the engine.

Also noteworthy is the Spider’s updated open-air aerodynamics. The chassis is made from 11 aluminum alloys and metals allowing for 23 percent more responsiveness than the California.

Ferrari’s 488 Spider starts at $275,000 and should be available mid-2016.