You may not recognize the name “Thunder Power,” but the Taiwan-based power tool manufacturer may soon be in all the headlines. Thunder Power has its eyes set on the electric car market and has released a concept of a new electric car  that they hope will compete with the Tesla Model S. What makes the car super exciting is that the company claims it can travel up 373 miles on a single charge while still touting an impressive 430bhp. Thunder Power unveiled the new EV this month at the Frankfurt Motor Show.

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Thunder Power is so serious about getting into the segment that it’s poached experts from the auto industry to help it produce its first electric car. Thunder Power recently hired Peter Tutzer, who previously held positions at Lotus and Bugatti and Franz Schulte, who used to work for Ford.

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Thunder Power reported that the all-electric car will produce around 430 horsepower and be able to reach 62 mph in under five seconds with a top speed of 155mph. With a target price around $63,000 and a release date of sometime in 2017, the Thunder Power electric car could be a promising new entry that could seriously compete with Tesla in the electric car market.

+ Thunder Power

Via: Carscoops and Auto Express

All images © Thunder Power