Though Tesla remains the company to beat in the electric car market, the reality is that Elon Musk and co. haven’t truly encountered any real competition in the high-end EV space. That, however, will change once Porsche’s highly anticipated Mission E hits the streets. Originally introduced back in 2015, the Mission E is an ambitious project to say the least. According to the German automaker, the goal is to outfit the Mission E with 310 miles of range, and equally as impressive, Porsche boasts that the Mission E will be able to reach a charge of 80% in just 15 minutes. While it remains to see what the Mission E’s final specs are, we now know how much the car is going to cost — and suffice it to say, it’s not going to come cheap. Put simply, it’s going to be priced like a Porsche.

During an interview with Car Magazine, Porsche CEO Oliver Blume relayed that the Mission E — which boasts an incredibly sleek design — will be priced in the $85,000 range. That makes it about $10,000 more expensive than the most affordable Model S and markedly cheaper than some of the more tricked out Model S units which can cost upwards of $106,000. As Blume tells it, the Mission E is priced “like an entry-level Panamera.”

Speed wise, the Mission E is no joke.

Porsche claims the Mission E will pass 62mph in ‘less than 3.5 seconds’, dashing past 124mph in just a dozen seconds. Top speed meanwhile will be ‘more than 155mph’. The dual-motor layout delivers four-wheel drive and the 911’s four-wheel steering features for agility that would surprise most four-seaters. The batteries are mounted as low as possible within the composite construction for a ground-hugging centre of gravity.

According to Blume, Porsche is anticipating that the Mission E will go on sale towards the end of 2019 and will be available in a variety of configurations.

On a related note, you might recall that Porsche early last year said that it was also working on a hybrid version of its iconic Porsche 911. Alas, Porsche killed development on that project a few months back.