Tesla Motors may be the undisputed king of the electric vehicle industry right now, but it looks as Porsche has something to say about the American company’s recent dominance. Back in September, the German marque debuted its Tesla-fighting Mission E and this month, it announced that it’s investing more than a billion dollars to bring the full-electric model to production.

While details of the Mission E are still relatively unknown at this point, we do know that the four-seater will produce more than 600 horsepower, rocket from 0 to 62 mph in under 3.5 seconds, and go 310 miles on a charge — which, incidentally, trumps the Tesla Model S P90D’s best of 286 miles. Porsche’s second advantage, meanwhile, should come in the form of a 800-volt charger that will power the car up to 80 percent in just 15 minutes, which is half the time it takes the Tesla. In short, the EV market is about the get a lot more exciting and it’s only a matter of time before we start seeing similarly-beautiful, blindingly-fast electric vehicles from other automakers.