Aston Martin plans on stepping up to Tesla Motors in the electric car game with an 800-horsepower electric sedan.
Andy Palmer, CEO of the British sports car maker, said at Sunday's Pebble Beach Concours d'Elegance that the car will be an all-electric version of the company's four-door Rapide, according to Automotive News.
The announcement follows several months after Palmer hinted at Aston's development of an electric Rapide.
Features planned for the electric sedan include all-wheel drive and a range of about 200 miles per charge, USA Today reported.
Aston appears to be focused on fuel-economy, as Palmer says that the company needs to come up with an alternative to gas-powered sedans.
"If you want to keep making V-12 engines, then you've got to do something at the opposite end of the spectrum," he said, Automotive News reported.
While the exact price of the electric Rapide has yet to be revealed, Palmer hinted that it would be between $200,000 and $250,000. Tesla's Model S P90D currently costs around $142,000.
"What Tesla clearly shows you is we haven't hit the ceiling in terms of price," Palmer said. "But I think it's hard, though not impossible, for them as a relatively new brand to keep pushing up and to go into that super premier area."
The plan for Aston is to bring the electric car to the market in about two years, Forbes reported. The company also intends to follow up the Rapide with an all-electric DBX crossover by the end of the decade.