Lotus has used the Goodwood Festival of Speed to announce its upcoming hypercar will be called the Evija.

Previously known as the Type 130, the Evija name is pronounced “ev-eye-a” and means “the first in existence” or “the living one.” Lotus says this makes the moniker “highly appropriate” as the Evija will become the first electric hypercar from a British automaker.

The Evija will go into production next year and the company says it will open an “exciting new chapter in the history of the iconic British sports car brand.” The automaker also noted the car is the first major new model to be launched under Geely ownership and hinted this “significance cannot be overstated.”

The company has been tight-lipped about specifics, but the car will be unveiled at special event in London later this month. In the meantime, the company has released a new teaser video which shows the model will have a slender center console with hexagonal buttons to start the car and shift the transmission into gear. People who visit the Lotus stand at Goodwood can also get an exclusive glimpse of the Evija via a “dramatic light show” that promises to reveal new details about the car.

Production will be limited to 130 units and previous reports have suggested the model will have a carbon fiber monocoque chassis and four electric motors that produce more than 1,000 hp (746 kW / 1,014 PS). The car is also rumored to have active aerodynamics and a high-tech battery pack.

Also Read: Lotus Type 130 To Be Britain’s First All-Electric Hypercar

In a statement, Lotus CEO Phil Popham said “Evija is the perfect name for our new car because it’s the first hypercar from Lotus, our first electric offering and is the first new model under the stewardship of Geely.” He went on to say “The Evija is a Lotus like no other, yet a true Lotus in every sense.”