Efficiency and speed will both be demanded of Progressive Automotive X-Prize entrants and the E-Tracer that Peraves has announced it will bring to the competition has both of those characteristics in spades. Serious spades. The only question unanswered is whether or not is has the lesser cards needed for a $10 million-winning royal flush. Putting that aside for now though, let's take a closer look at this electric cabin cycle and some of the cards it's holding.

The E-Tracer is the electric version of the Swiss company's MonoTracer and shares the .19 drag coefficient of that BMW-engined machine as well as its low rolling resistance and relatively light weight. Instead of having a gas-burner hooked to a gearbox for guts, the clean version has a highly efficient AC induction motor. A powerful one. The AC Propulsion Gen II with 204 horsepower (150 kilowatts) and 162 pound feet of torque to be exact. In the Peraves X-Prize participant, that translates to a sub-four second 0-60 time and a top speed of 150 miles per hour (electronically limited). Its 20 kWh lithium battery has enough juice to drive 186 miles (300 km) at 60 mph (100 km/h) and still leave you with a 20-mile reserve at about 50 mph.

We'll leave it to the judges to decide how well this two-seater meets their other criteria but if you've already decided you'd like to park one in your garage, the wait may last a year and cost you around €79,350 ($107,800 at today's rate). Unless you want to hold out for a planned 268 hp Ultra-Sport version, which we assume will cost more. To see the original MonoTracer in action, (and get a look at the way those outrigger wheels work at low speed) hit the jump for official-looking video plus bonus footage of the first one to roll on American shores.

[Source: Peraves via Tesla Motors Club]