Concorso D’Eleganza Villa d’Este: Rimac Concept One Live Images image

This year at Rimac Automobili unveiled the Concept One.

Boasting a full 1, 088 horsepower and capable of going from 0-62MPH in just 2.8 seconds, the Concept One is not a concept anymore. The vehicle is on sale for $1 million.

Concept One will enter production in 2013 and will also pick up special tires co-designed by Italdesign Giugiaro. The tires are made by Vredestein and come from the Ultrac Vorti series, with Giugiaro’s input, and are aimed at high-performance uses.

But speed isn’t the only shiny feature of the Concept One, fitted with a 92 kilowatt-hour LiFeP04 battery system, the car has an impressive range of over 370 miles, making it a strong contendor against other all-electric luxury companies like Tesla Motors.

Deliveries are expected in the first quarter of 2013.