Jaguar I-Pace undercuts Tesla Model X by $9,000

The company is aggressively targeting the Model X 75D in pricing, performance and range.

Jaguar has announced pricing details for its new I-Pace, stepping up a proud rivalry with the Tesla Model X.

The all-electric SUV will start at $70,495 (including $995 freight, before government incentives), representing a $9,000 savings when compared against the entry-level Model X 75D.

Jaguar expects its first EV to achieve 240 miles of range -- a modest 3-mile advantage over the 75D. The company already released a video highlighting the I-Pace's 4.5-second launch to 60 mph, beating the Tesla by nearly a half second.

To be fair, the Model X range includes other variants that smash the I-Pace in terms of range and performance but such triumphs stretch the price gap to more than $25,000.

The Model X will finally have some company in the lonely segment when the I-Pace arrives in the second half of 2018. If Jaguar doesn't constrain production, the SUV will help determine if buyers are still willing to pay a premium for Tesla as the California-built vehicles finally face competition from established premium marques.