Jaguar pounces into electric vehicle market with I-Pace

(CNN) - Jaguar unveiled its first electric vehicle at the Geneva International Motor Show this week.

The Jaguar I-Pace gets about 240 miles per charge and can produce up to 394 horse power.

Company designers put the SUV’s heavy battery under the floor between the front and back seats instead of under the hood.

That's why the vehicle doesn't feature Jaguar's signature long front end.

The vehicle is expected to retail for about $70,000 which makes it considerably more affordable than Tesla's Model X.

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