Porsche Taycan, the first all-electric car from German automobile manufacturer, has been unveiled. The Taycan was first teased nearly four years back and has graduated from concept to production vehicle. The four-door electric vehicle was originally dubbed as “Mission E” and it can be seen as the prominent competitor to Tesla Model S. Porsche is introducing two variants of its first all-electric car. There is Taycan Turbo priced at $1,50,900 and Taycan Turbo S priced at $1,85,000.

Yes, these are not affordable electric vehicles and is more expensive than $1,00,000 Model S. But Porsche is aiming for a different segment here where a user wants both a regular road car as well as a sports car in an electric package. The use of word “Turbo” in the name does not really mean anything since they lack a combustion engine. Both the models are nonetheless all-wheel drive vehicles and are capable of going from 0 to 60 miles per hour in less than three seconds.

At the launch, Porsche has not offered EPA estimates for its range but it claims a range of 450 kilometers on a single charge. These estimates based on European estimates put it in the same range as that of Tesla Model S P100D. Both the turbo models of Taycan use a dual-electric motor setup and will product equivalent of 616 horsepower. In the launch control mode, the Taycan Turbo will produce 670 horsepower while the Turbo S will push 750 horsepower. The Turbo will be able to accelerate from 0 to 60 miles per hour in flat three seconds. The Turbo S can reach that mark in just 2.6 seconds.

The straight line speeds alone make the Taycan competitor to Tesla’s upcoming Roadster. Porsche’s first all-electric cars house a 93kWh battery pack that weighs about 1,389 pounds. The cars weigh over 5,100 pounds despite their sporty appearance. The Taycan has a top speed of 161mph which is comparable to performance version of Tesla Model S and Model X which have a top speed of 163mph respectively. One of the advantages that Taycan has is its new charging system.

Despite packing a huge battery, the Taycan will be able to charge rapidly using its 800-volt technology. It claims charge from 5 percent to 80 percent in just under 23 minutes when connected to chargers capable of charging at 270kW. With Taycan, Porsche is aiming to offer an electric vehicle that looks and drives like a supercar. It has heritage design of Porsche 911 and Panamera written all over it. At $1,50,100, the prime seems steep but Porsche fans won’t mind spending a premium to experience speed without destroying the environment.