There was a time when no one believed that Tesla would amount to anything. But we all know the Silicon Valley-based EV carmaker has proven them all wrong. And now it's become quite clear that Porsche isn't about to let Tesla dominate the EV segment. What's more, Porsche isn't about to allow domestic rival BMW rule the hydrogen fuel cell market either. According to Autocar, Porsche is currently hard at work developing both an all-electric and hydrogen fuel cell version of its upcoming 5 Series rivaling sedan.

For example, the battery-powered version "will have at least a Tesla-matching 420 hp…and a 265-mile range." The EV version of the sedan could be called the 718 while the fuel cell will be branded the 818. Both will be built on the same, though highly modified, platform that'll underpin the next the generation Panamera. Now, it's also important to know that Porsche isn't neglecting the internal combustion engine here. That car will be the rumored Pajun, but both the EV and fuel cell cars will have somewhat distinctive styling inside and out. When will these cars launch? Hard to say, but don't expect to see the EV and fuel cell version until late 2017 at the earliest.