Porsche's new fast charging electric car is a fresh challenge for Tesla

Porsche revealed a four-seat sports car that accelerates faster than the 911 and gets charged in just 15 minutes, which issues a challenge to Tesla Motors Inc. to keep pace.

Head of Volkswagen AG Matthias Mueller said at the International Auto Show in Frankfurt that the Mission E concept reaches 100 kilometers (62 miles) per hour in 3.5 seconds, beating the 4.2 seconds for the new generation of the 911. Moreover, the 600-horsepower car has a range of more than 500 kilometers and can recharge the battery to 80 percent capacity in about 15 minutes. 

Porsche Mission E

In comparison, Tesla’s Supercharger needs about 30 minutes to recharge the Model S to about 170 miles of range.

Porsche and sister unit Audi are among the elite car brands turning to battery-powered models as Tesla develops into a serious competitor.

As a blow to traditional rivals, the firm run by billionaire innovator Elon Musk has received bright reviews for the acceleration and handling of the Model S.

Tesla had benefitted from being the innovator of battery-powered cars, increasing their driving range and reducing costs, Reuters reports. However, analysts are split on how the new battery-powered Audi and Porsche will affect Tesla.

The new models represented by Porsche and Audi will create a larger market for electric vehicles.

"It will certainly sharpen the public focus on electric vehicles and raise overall awareness. Consumers are also set to gain from growing offerings of electric cars, especially in the performance segment," Commerzbank analyst Sascha Gommel told Reuters.

Audi and Porsche are expected to begin selling their electric cars around 2018.

Tesla stock is rising 0.40% to $252.05 on Tuesday.

Tesla Model S

Meanwhile, at the Frankfurt auto show, Porsche introduced a new generation of the 911 sports car. The model features biturbo engines that generate at least 370 horsepower.

More than 200,000 cars are planned for selling for the first time this year, driven by demand for the $52,600 Macan compact SUV. 

The Mission E concept uses an 800-volt electric system, double the voltage of other systems, Bloomberg reports. That helps reduce charging times and lowers weight, the company said. To assist in operating the vehicle, the car features eye-tracking and gesture control, including the use of holograms that allow the driver to grab apps out of the air, according to the producer.