Xiaomi on Tuesday unveiled what it claims to be the four-door car with the highest speed and horsepower in the world at a pre-sale price of RMB 814,900 ($114,200), making it a strong competitor to Tesla’s Model S Plaid and the Porsche Taycan Turbo. The new SU7 Ultra has three electric motors to make for a combined 1,548 horsepower and has a maximum torque of 1,770Nm, giving it an acceleration to 100 km/h (62 mph) in 1.98 seconds, superior to existing offerings from the likes of McLaren and Ferrari. This also means the sports car, a luxury version of its first EV model the SU7, is capable of travelling 350 kilometers per hour, comparable to that of China’s high-speed trains. The Chinese technology giant also announced that the SU7 Ultra prototype had set a record lap time of 6:46.874 minutes at Germany’s Nurburgring racetrack. Scheduled for launch next March, the high-performance sports car uses carbon fiber in abundance to lower weight and provide strength, while it also features a larger-than-usual carbon-ceramic braking system for greater temperature resilience.