Electric vehicle startup company Lucid, formerly known as Atieva, unveiled its first vehicle mid-December 2016, the Air.

The new Tesla-rivaling four-door luxury sedan sports advanced battery technology, impressive performance and range, and a price tag to match, reports Electrek.

The Air will be powered by twin electric motors fed by a 130-kWh battery pack, spinning out 1,000 horsepower at full tilt. This amount of power, coupled with an all-wheel-drive layout, will enable the Air to reach 60 mph (100 km/h) in a scant 2.5 seconds, putting it in direct competition with Tesla’s Model S P100D when it comes to EV acceleration.

The large battery capacity will also enable impressive range; the startup automaker says its Air will achieve 644 kilometers of range in a single charge. Quick-charge technology is under development and will be applied in the Air once perfected.

Commenting on the new model’s battery, Albert Liu, Lucid’s director of battery technology, said a partnership with Samsung has enabled the brand to bring cutting-edge performance to the segment.

“Samsung SDI combined their in-house chemistry expertise with massive real-world datasets and state-of-the-art battery models provided by Lucid to develop a cell that is both energy-dense and resistant to damage associated with fast-charging,” said Liu.

The company has not released official pricing, but has indicated its first car will cost in the neighbourhood of $160,000 USD ($213,000 CAD) when it goes on sale sometime in 2018.

Lucid is planning to build its factory in Phoenix, Arizona at a cost of $700-million USD. It is still raising capital and is accepting early deposits of $25,000 to reserve an early-edition copy of its Air EV.