Buoyed by the success of its F-Pace, Jaguar has built an electric sports utility vehicle concept dubbed the I-Pace, which will become available to consumers in 2018.

The I-Pace is already being touted as a rival for Tesla's Model X and will be the first-ever all-electric car from Jaguar. The production variant of the I-Pace is poised to be unveiled by the luxury carmaker in late 2017.

On Tuesday, Nov. 15, Jaguar took the wraps off the production preview model of the five-seat I-Pace, which will hit the roads two years from now.

"The I-PACE Concept represents the next generation of electric vehicle design. It's a dramatic, future-facing cab-forward design with a beautiful interior - the product of authentic Jaguar DNA, electric technology and contemporary craftsmanship. Our virtual reality reveal today has pushed technology boundaries as well, and captures the hi-tech essence of the concept car. We only have one concept car and it is in L.A. for the reveal," shared Ian Callum, director of design at Jaguar.

What's The X Factor?

Jaguar asserts that the I-Pace is poised to be the "smartest" five-seater car around. It has a groundbreaking design with 23-inch wheels, superb performance, fast charging times and a competitive range.

The EV charges 80 percent in just 90 minutes and 100 percent in a little over 120 minutes by deploying 50 kW DC charging. The I-PACE also has premium interiors and boasts two super-intuitive touch screens.

These factors will make the I-Pace the first-ever EV that can be a viable alternative to traditional premium SUVs.

Anything New?

The I-PACE houses a 90 kWh battery pack, which is liquid-cooled, and offers support for the vehicle's electric motors on both the rear and front axles. It gives the I-PACE a car range of nearly 220 miles, which is slightly less than the 250 miles offered by the Model X, and offers 394 horsepower.

This setup will basically enable the upcoming EV to accelerate from 0 to 60 mph in just 4 seconds.

Jaguar has also played around with the design of the EV, and the absence of the traditional internal combustion engine and transmission has aided the design team to reduce the length of the rear and front overhangs, move the cabin forward and increase the wheelbase. These changes has led to improved legroom and visibility for drivers. The I-PACE will also have transparent roof.

Jaguar's Target?

With the I-PACE, Jaguar is looking to lure consumers who are shifting from hybrid or combustion-based SUVs to all-electric ones.

The Price? Release?

Jaguar has not disclosed the price for its I-PACE but the EV will make its way to dealers in 2018.

We anticipate that the I-PACE will command a six-digit figure, which will be quite a departure from the $56,700 price for the F-Pace.