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Now even the luxury car makers are getting their hands dirty playing with electricity! After the recent article about the Chevy Volt electric car being priced at $41,000, Porsche has a similar concept at works and good news hit today with the Porchse supervisory board approving the production of the 918 Spyder Hybrid car.

Initially the Porsche 918 debuted as a concept at this year’s Geneva Motor Show. The Prosche 918 Spyder Hybrid packs some power under the hood. It is a plug-in hybrid powertrain that claims to provide 78 miles per gallon!

The car comes complete with a 500-horsepower V8 along with a pair of electric motors which generate about 109 hp each. The lithium ion battery pack can provide up to 16 miles of drive time when fully charged before the engine kicks in.

There was no official release date announced however auto-fans were delighted to hear that the car would go into production. Analysts speculate that the car would cost somewhere around $650,000 and might be eligible for a federal tax credit. This is a little too expensive when compared to the Volt or the good ol’ Prius but this could be that dividing line between luxury and hybrids. Not sure how they intend to get such good mileage but then German Engineering has always been the best.

You can read more here.

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