Via: Architectural Digest

Exciting news to report here today out of the Frankfurt Auto Show, as it appears that Tesla will soon have another competitor in their now somewhat-lonely luxury electric car market.

Indeed, making the debut at the biggest auto show in their home country of Germany, legendary automaker Porsche has announced an all-electric new concept model, the very first in the automaker’s illustrious 84 year history.

The new all-electric concept model from Porsche. (via Tampabay.com)

Indeed, Tesla has exploded in popularity in recent years, with some Wall Street analysts as much as doubling their forecasts for the automaker over the next 3-5 years. However, there is a lot to be impressed with on this new Porsche concept as well. The model, pictured above, featured a beautifully modern, windswept design; evocative of their classic Porsche 911 design, but also distinctly more modern. In terms of the technical specs, there is a lot to impressed with as well. The model will be able to travel up to 310 miles between charges, and its two motors equally distribute no less than 600 horsepower to the four wheels. This massive amount of power will give the new car a 0-60 time of only 3.5 seconds as well, besting most of even the most powerful traditional muscle cars.

But what about in terms of competing with Tesla? In terms of a side-by-side comparison, the Porsche is a bit more powerful, but the Tesla has a substantially longer range, with drivers reporting over 450 miles traveled between charges before. Time will certainly tell which luxury-electric model strikes the long term chord with consumers, but for now, Tesla still maintains a pretty lengthy lead on establishing itself as the leader in that market.