Porsche approves its electric Tesla competitor

Porsche has given the green light to production of a 600-horsepower electric car poised to take on the likes of Tesla and BMW.

The vehicle could accelerate from a stop to 62 miles per hour in under 3.5 seconds and run for up to 300 miles a charge.

According to the company, the vehicle's batteries in the floor can charge to 80 percent in 15 minutes.

Read more from USA Today.