Students at MIT recently announced that they are developing an extended range electric vehicle capable of achieving the same performance as its gasoline-powered counterparts. Dubbed the elEVen, the electric dream ride is capable of achieving a top speed of over 100 mph, a range of 320km (200 miles) and can completely charge in 10 minutes flat!

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MIT students have long had a reputation for brilliance and hard work – after all, they have shown us how to redesign our cities, change our electricity consumption, and improve our solar cells. However this latest project might just be their most impressive one yet.

Dubbed project elEVen, MIT‘s revolutionary eco-car takes the form of a modified Mercury Milan Hybrid which has been transformed into a fully electric vehicle. Their goal is to create a car capable of trumping its gasoline-powered counterpart by 2010.

Before you go and put your name on the waiting list though, there is a catch – the vehicle is powered by lithium iron-phosphate batteries, which stand to drive costs up to approximately $80,000. And although battery technology is constantly improving, the team still needs to hook the vehicle to a power source capable of generating 350kW in order to facilitate a 10 minute recharge – that’s enough electricity to power roughly 20 houses at once.

As per usual with MIT, you can follow the progress on their blog. The team plans to test their vehicle in August.

+ MIT Electric Vehicle Team

Via PC World