May 16, 2013 10:07 AM EDT
Porsche 918 Spyder Review: Company Reveals Car That Rivals P1, LaFerrari, Specs Revealed (VIDEO)

Porsche introduced their new 918 Spyder model this week, saying that the new car "embodies the essence" of the Porsche idea.

Interested customers can expect a combination of pedigree motor racing technology with everyday utility and maximum performance with little consumption according to a company press release.

Porsche challenged their designers to create a sports car that would be reliable and relevant for the next decade with efficient and powerful hybrid drive. By developing the vehicle from scratch, the team of designers was allowed to come up with a "no-compromise" concept.

Click here to learn more about the vehicle.

The vehicle was designed, developed, and produced by Porsche engineers who build race cars, along with a number of different production specialist.

"A key message of the 918 Spyder is that the hybrid drive from Porsche is a plus for no-compromise driving dynamics. Drivers can experience this thanks to the unique all-wheel drive concept with a combination of combustion engine and electric motor on the rear axle and the second electric motor on the front axle," said Porsche in the company release. "It is based on knowledge gained by Porsche during motor races with the successful 911 GT3 R Hybrid."

The 918's 4.6-liter V8 now produces 608 hp, and drives the rear wheels coupled to a 156 hp electric motor and seven-speed dual-clutch transmission according to Porsche. An additional 129 hp electric motor powers the front wheels.

This means that the vehicle is getting closer to rivaling the P1's 903 hp and LaFerrari's 951 hp.

Porsche also said that the 918 Spyder will do 0 to 62 mph in 2.8 seconds, 0 to 125 mph in 7.9 seconds, and 0 to 188 mph in 23.0 seconds. The new vehicle will have a top speed of approximately 213 mph.

Porsche will only build 918 copies of this hybrid model, which should released by the end of the year.

The vehicle will be sold for a starting base price of $845,000.

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