Will Tesla's New Roadster Keep Up with Genovation's GXE?

When Tesla Inc. (NASDAQ: TSLA) delivers its first second-generation Roadster next year, the company says the car’s top speed will be over 250 mph. The promised battery range is 620 miles, but who cares. The Roadster is going to be really fast.

Until then, the Genovation GXE will have to be the unofficial EV speed demon. Earlier this year, the electrified Z1 Corvette hit a speed of 211.9 mph, nearly 50 mph higher than the Tesla Model S Performance EV in Ludicrous mode that has a top speed of 163 mph. The theoretical top speed is 220 mph.

The Genovation GXE is a Corvette Grand Sport with two electric motors under the front hood and a seven-speed stick shift. The twin motors generate 800 horsepower. Five battery packs totaling 61.6 kWh of power give the car a range of 175 miles. Unless you’re interested in driving 250 mph for an extended period, lowering the range significantly.

If you’ve never heard of Genovation that’s probably because, well, if you have to ask how much it costs, you can’t afford it. When the new Tesla Roadster begins deliveries next year, the base sticker price is expected to be $200,000 and the Founders Series version (limited to 1,000 vehicles) will cost $250,000. A refundable base reservation costs $50,000.

Each GXE is being hand-built and will cost $750,000 and only 75 will be made. Deliveries have not yet started, so you’ve still got time.

The Tesla Roadster still has to show it can reach its top speed. And even if it does, another startup automaker, Rimac Automobili, has a 1,900 hp hypercar in the works that aims at a top speed of 258 mph.