Ian Wright has created a car which beat both a Ferrari 360 Spider and a Porsche Carrera GT in quarter mile drag races. Among production cars, only the Bugatti Veyron goes from 0-60 faster, and it is 1,000 horsepower and has 16 cylinders. So what? Well, the Wrightspeed X1 is an electric car. The roadster will soon be going into small-batch production and customization by Wright’s company, Wrightspeed, and will run about $100,000 including the quarter ton of batteries. That’s a steal compared to the $1.25 million you need to dish out for the Bugatti. All Wright needs is $8 million in funding to get going.

The X1 charges in 4.5 hours and has a range of about 100 miles on a charge. Wright designed little of the car from scratch, instead borrowing parts from other cars on the market. The chassis, for example, is from the Ariel Atom.

Wright is one of the leaders in the new wave of electric vehicle design. EVs have fallen out of attention after GM and others failed to make them popular, and hybrids have taken over. With amazing performance like the X1 and rapidly improving battery technology, the future looks bright for electric cars.