For nearly two years now Porsche has teased fans with its concept car, the plug-in hybrid 918, and we are now officially getting a taste of the real thing.

Porsche coupled its announcement of the vehicle with a few photos.

The Porsche 918 Spyder "demonstrates the potential of the hybrid drive to a degree never seen before: the parallel improvement of both efficiency and performance without one being at the cost of the other," the Porsche announcement states. "This is the idea that has made the Porsche 911 the most successful sports car in the world for 50 years. In short, the 918 Spyder will act as the gene pool for the Porsche sports cars of the future."

The Porsche 918 Spyder is based on several new technologies, including separate electric motors, a carbon-fiber reinforced polymer body and the latest V-8 engine at 608 horsepower. And as if that weren't enough, the vehicle has substantial hybrid specs. It can get 18 miles on electric power only. Also on electric power it can get zero to sixty miles per hour in seven seconds. Recharging from a standard wall socket takes about seven hours.

We should see amazing speed from the Porsche 918 Spyder. When the prototype performed on the Nurburgring course in Germany, it beat the Porsche Carrera GT by 20 seconds. This is partially attributed to the vehicle's light weight at 3,715 pounds. Precision is boosted by the fact that the rear axle is steerable and ground-hugging is enhanced by the heaviest components of the car being situated low.

Those wanting to get their hands on the Porsche 918 Spyder, however, will find that the price is no bargain. It's set at 781,155 euro or roughly $1,001,284.48.