Tesla is probably best-known for its all-electric Roadster sports car, but company CEO Elon Musk wants the company to eventually produce a true "supercar." Tesla's Ferrari-fighter would likely carry a price tag of $200,000.
"It was going to happen right after the Model X, but it is more important to the world that we do a more affordable electric car," Musk said. "Hopefully, we will get to an electric supercar in four to five years."
Musk didn't dish out any more details about the project, but his use of the word "supercar" would indicate better performance than the company's Roadster model. The Roadster is capable of accelerating from 0-60 in just 3.7 seconds.
In addition to taking on Ferrari and Lamborghini, Tesla will have to compete with at least two other electric supercars. Mercedes-Benz is readying an all-electric version of its SLS AMG and Audi is developing a plug-in version of its R8.