Audi has announced the prices of the 2017 Audi R8 models. The car-maker claims that the 2017 Audi R8 is the most powerful and fastest Audi production model ever.

Audi car lovers will be able to choose from two models of the latest sports car. The entry-level model - Audi R8 V10 - will have a price tag of $162,900 and the higher variant - Audi R8 V10 Plus - will cost $189,900. The prices of both the models exclude $1,250 destination charge.

"The 2017 R8 represents the pinnacle of performance for any model with the four rings. Thanks to the close cooperation between Audi Sport engineers, race drivers and developers, the Audi R8 and R8 LMS racecar were co-developed and share approximately 50 percent of the same parts, including the V10 engine," said Audi.

The 2017 Audi R8 features the same V10 engine, which is found in the company's R8 LMS racecar. The new R8 features an updated 7-speed S tronic dual-clutch transmission that can shift gears in 120 ms.

The V10 engine of the entry-level 2017 Audi R8 produces 540 horsepower and 398 pound-feet of torque. The car can reach speeds of 60 miles per hour (mph) in just 3.5 seconds and the top track speed of the 2017 Audi R8 is 199 mph.

The 2017 Audi R8 V10 Plus can achieve higher power and speed than the entry-level model. According to Audi, the R8 V10 Plus can produce 610 horsepower and 413 pound-feet of torque. The car can reach speeds of 60 mph in just 3.2 seconds and it can attain a top track speed of 205 mph.

The higher model of the latest Audi R8 weighs about 77 pounds less in comparison to the R8 V10. The R8 V10 Plus also features carbon ceramic brakes as standard. Customers also get "carbon fiber rear diffuser, front lip spoiler, exterior mirror housings and fixed rear wing spoiler, and for the first time ever in the U.S., racing shell seats."

Both the models of 2017 Audi R8 include the company's 12.3-inch diagonal "Virtual Cockpit," which is a configurable display screen in place of traditional gauges. Audi Connect apps, 4G LTE connectivity, Google Earth imagery and Wi-Fi hot-spot capability also come as standard.

The price of the 2017 Audi R8 is higher than some of its rivals. The 2016 Nissan GT-R has a starting price tag of $103,365 while the price of the new Porsche 911 Turbo starts from $160,250.

Both the models of the 2017 Audi R8 goes on sale this spring.

Check out a video of the 2017 Audi R8 in action.