Fans of electric vehicles are looking forward to the upcoming Tesla Model X, a car that is predicted to set the bar high. However, Jaguar has officially unveiled their own electric vehicle, the new I-Pace, which will compete directly with the Tesla Model X and will be released sometime in 2018.

According to a report from The Verge, the I-Pace will be using an improved version of the suspension system that has been featured on their recent SUV, the F-Pace.

It is also coming with 50 kW DC charging, which allows it to charge from zero to 80 percent in just 90 minutes. It can reach its full charge in 2 hours. Jaguar reportedly formed their own Formula E team to develop their battery in-house.

On a single battery charge, it will be able to reach a maximum speed of 310 mph and can go from zero to 62 mph in 4 seconds. This means it will be able to rival even the fastest of the most popular sports cars in the market. Pushing for more power is the all-wheel drive which puts out 400 horsepower and 516 feet-pound of torque and a 90 kW lithium-ion battery pack.

"The I-Pace Concept represents the next generation of electric vehicle design. It's a dramatic, future-facing cab-forward design with a beautiful interior - the product of authentic Jaguar DNA, electric technology and contemporary craftsmanship," explained Jaguar Director of Design Ian Callum.

According to Telegraph, Jaguar is offering consumers to show their interest on the vehicle's official website. This is very similar to what Tesla did for their Model X, and they managed to garner over 300,000 preorders, even though the Model X is not coming out until the final quarter of 2017.

While no specific release date has been announced, the vehicle could be one of the first all-electric SUVs that are not from Tesla. This is, however, if the car is not pushed back to 2019.