Electric automotive startup NextEV and its new brand Nio have unveiled a vehicle that the Chinese company claims is the fastest electric car on the planet, the EP9.

The sleek and futuristically styled EP9 was debuted at a special launch event in London last month. Specs show the EP9 can hit 124 mph from a stop in just 7.1 seconds and offer an incredible maximum speed of 194.5 mph.

It isn’t only fast on the road, but it’s also fast to charge with battery recharge only taking 45 minutes. The EP9’s range is comparable with that of a Tesla Model S, with both vehicles offering a 265-mile range. Nio’s EP9 also offers the option of an interchangeable battery system, with it taking less than 10 minutes to swap out the drained battery for a full one.

NextEV took the Nio EP9 to the famed Nürburgring track in Germany to show off what the vehicle was capable of. The result is the EP9 beating the then-existing electric vehicle lap time with its own 7:05:12 record-setting split.

The EP9 boasts a superlight construction, including a chassis and cockpit created of carbon fiber that also helps the aerodynamics of the supercar.

“The Nio EP9 was born to push limits and is the first stage of automotive production for Nio,” NextEV founder William Li said at the revealing event. “It is a statement of our vision and technical and manufacturing capabilities.”