The Tesla Model S P85D 's 'insane mode ' may be fast , but a new electric car by Drive eO is set to be even faster . The Latvian firm is currently developing a one megawatt electric race car to compete in the Pikes Peak International Hill Climb in June . The stomach-churning vehicle , dubbed eO PP03 , runs on 50 kWh lithium-ion battery pack driving six YASA-400 electric motors . Latvia-based Drive eO has created a vehicle , named eO PP03 , which runs on 50 kWh lithium-ion battery pack that drives six YASA-400 electric motors and produces 1020 kW ( 1368 horsepower ) It is capable of producing 1020 kW ( 1368 horsepower ) and speeds of up to 160 mph ( 260 km/h ) , compared to the top speed of 155 mph ( 249 km/h ) on the Model S. Drive eO says it will be the 'first one megawatt all-electric race car with peak torque of 2160 Nm and kerb weight is targeted at 2646lb ( 1,200kg ) . The car is still in development and the company has yet to reveal its range . 'We want to become the first overall winner with an electric vehicle , ' said Kristaps Dambis , project director at Drive eO . Drive eO was the first to enter and complete the Dakar Rally with a hybrid electric vehicle . That was followed by the creation of eO PP01 , a purpose built fully electric prototype race car to participate at the Pikes Peak International Hill Climb competition . The one megawatt electric race car is set to compete in the Pikes Peak International Hill Climb ( pictured ) in Colorado Springs . The race is the second oldest motor racing event in the US and runs on a challenging 12.42 mile ( 20km ) course with 156 turns in Colorado Springs . All wheel drive . Six YASA-400 electric motors with eO controllers . Peak power 1020 kW / peak torque 2160 Nm . 50 kWh lithium-ion battery pack with BMS . Steel tubular spaceframe with carbon fibre body . Electrically assisted power steering . 4-way adjustable shock absorbers . 320/710 R18 slick tyres / 13 ' × 18 ' wheels . Kerb weight : 2646lb ( 1,200kg ) Top speed:155 mph ( 249 km/h ) The race is the second oldest motor racing event in the US and runs on a challenging 12.42 mile ( 20km ) course with 156 turns in Colorado Springs . It begins at 2,862 metre elevation ( 9,390 feet ) and finishes at the 4,301 metre ( 14,110 feet ) summit of the Pikes Peak mountain in Colorado Springs . The announcement of the Drive eO PP03 following the development of software upgrades to make the P85D even faster . 'Tesla P85D 0 to 60mph acceleration will improve by ~0.1 sec soon via over-the-air software update to inverter algorithm , ' Tesla founder Elon Musk tweeted earlier this year . Musk was referring to something known as the 'insane mode ' which allows the car to accelerate from 0 to 60 in a little over three seconds . The D model , unveiled in October has two motors - one powering the front wheels and one powering the rear wheels . It has a top speed of 155 mph ( 249 km/h ) , compared with the current 130 mph ( 209 km/h ) on Tesla 's previous S model . In Insane Mode , the full 691 horsepower of the electric car 's two motors is applied in one go . At the launch event , Mr Musk said the car reaches 60mph in three seconds from a standstill . During recent tests of the Insane acceleration , also carried out by DragTimes , the car achieved the speed in 3.17 seconds .
eO PP03 runs on 50 kWh lithium-ion battery pack that drives six motors . It produces 1020 kW ( 1368 horsepower ) and has a peak torque of 2160 Nm . Car will compete in the Model S. Drive in Colorado .