text: The Tesla Model S P85D's 'insane mode' may be fast, but a new electric car by Drive eO is set to be even faster. The Latvian firm is currently developing a one megawatt electric race car to compete in the Pikes Peak International Hill Climb in June. The stomach-churning vehicle, dubbed eO PP03, runs on 50 kWh lithium-ion battery pack driving six YASA-400 electric motors. Latvia-based Drive eO has created a vehicle, named eO PP03, which runs on 50 kWh lithium-ion battery pack that drives six YASA-400 electric motors and produces 1020 kW (1368 horsepower) It is capable of producing 1020 kW (1368 horsepower) and speeds of up to 160 mph (260 km/h), compared to the top speed of 155 mph (249 km/h) on the Model S. Drive eO says it will be the 'first one megawatt all-electric race car with peak torque of 2160 Nm and kerb weight is targeted at 2646lb (1,200kg). The car is still in development and the company has yet to reveal its range. 'We want to become the first overall winner with an electric vehicle,' said Kristaps Dambis, project director at Drive eO. Drive eO was the first to enter and complete the Dakar Rally with a hybrid electric vehicle. That was followed by the creation of eO PP01, a purpose built fully electric prototype race car to participate at the Pikes Peak International Hill Climb competition. The one megawatt electric race car is set to compete in the Pikes Peak International Hill Climb (pictured) in Colorado Springs. The race is the second oldest motor racing event in the US and runs on a challenging 12.42 mile (20km) course with 156 turns in Colorado Springs. All wheel drive . Six YASA-400 electric motors with eO controllers . Peak power 1020 kW / peak torque 2160 Nm . 50 kWh lithium-ion battery pack with BMS . Steel tubular spaceframe with carbon fibre body . Electrically assisted power steering . 4-way adjustable shock absorbers . 320/710 R18 slick tyres / 13' × 18' wheels . Kerb weight: 2646lb (1,200kg) Top speed:155 mph (249 km/h) The race is the second oldest motor racing event in the US and runs on a challenging 12.42 mile (20km) course with 156 turns in Colorado Springs. It begins at 2,862 metre elevation (9,390 feet) and finishes at the 4,301 metre (14,110 feet) summit of the Pikes Peak mountain in Colorado Springs. The announcement of the Drive eO PP03 following the development of software upgrades to make the P85D even faster. 'Tesla P85D 0 to 60mph acceleration will improve by ~0.1 sec soon via over-the-air software update to inverter algorithm,' Tesla founder Elon Musk tweeted earlier this year. Musk was referring to something known as the 'insane mode' which allows the car to accelerate from 0 to 60 in a little over three seconds. The D model, unveiled in October has two motors - one powering the front wheels and one powering the rear wheels. It has a top speed of 155 mph (249 km/h), compared with the current 130 mph (209 km/h) on Tesla's previous S model. In Insane Mode, the full 691 horsepower of the electric car's two motors is applied in one go. At the launch event, Mr Musk said the car reaches 60mph in three seconds from a standstill. During recent tests of the Insane acceleration, also carried out by DragTimes, the car achieved the speed in 3.17 seconds .
target: eO PP03 runs on 50 kWh lithium-ion battery pack that drives six motors .
  It produces 1020 kW (1368 horsepower) and has a peak torque of 2160 Nm .
  Car will compete in the Pikes Peak International Hill Climb in Colorado .