Porsche Mission E price, release date & specs: car company's 'Tesla Killer' gets green light

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Production on the first ever Porsche pure electric car is hitting the gas pedal after the company greenlighted the Mission E concept, The Hollywood Reporter reveals. First announced as a concept car earlier this year, the Porsche is set to hit showrooms at the end of the decade.

Daily Mail reports that according to Porsche, "The first 100 percent electrically powered Porsche is on its way. It will be launched at the end of the decade."

Chairman of the Supervisory Board of Porsche AG Dr. Wolfgang Porsche announced, "With Mission E, we are making a clear statement about the future of the brand. Even in a greatly changing motoring world, Porsche will maintain its front-row position with this fascinating sports car."

Porsche says the Mission E will feature 600 horsepower and all-wheel drive that enables the vehicle to go from zero to 60 in less than 3.5 seconds. The Mission E has a range of 312 miles and will be able to charge up to 80% in just 15 minutes.

The Mission E, dubbed as the "Tesla Killer" because of its features that will provide a major competitor for Tesla's Model S, will also feature a groundbreaking dashboard with "Instruments intuitively operated by eye-tracking and gesture control, some even via holograms," Daily Mail reports.

The Mission E will also feature two permanent magnet synchronous motors (PMSM), which are similar to those in the 919 hybrid and will accelerate the sports car and recover braking energy. These two motors can create more than 600 horsepower and enable the vehicle to travel to the speed of 100 kph in just 3.5 seconds and 200 kph un a little less than 12 seconds.

Mission E is the first to use 800-volt technology which means there's double the voltage compared to the usual 400 voltage in today's electric cars. According to Porsche, "This offers multiple advantages: shorter charging times and lower weight, because lighter, smaller gage copper cables are sufficient for energy transport."

Dr. Oliver Blume, Chairman of the Porsche Executive Board, said in the press release, "We are resolutely taking on the challenge of electric mobility. Even with solely battery-powered sports cars, Porsche is remaining true to its philosophy and offering our customers the sportiest and technologically most sophisticated model in this market segment."

Porsche isn't the only one gearing up to release Tesla-competitive vehicles, as Mercedes announced in September that they are developing a luxury electric sedan that features a 300-mile range while BMW is cooking up a new model for its electric "i" division to go up against the Tesla Model S.