Porsche announced today that they plan to move forward with series production of the 918 Spyder hybrid supercar in response to the “overwhelming response from the public and customers to the Concept Study.”

For those of you who are not yet familiar with the 918 Spyder, it is the most advanced use of plugin-hybrid technology to date. Similar to the much anticipated Chevy Volt, the 918 will have the ability to run purely on electric power, in this case, about 16 miles.

At the heart of the car is a 500hp 3.4L V8 based off of Porsche’s extremely successful RS Spyder race engine which, by the way, won titles in the American Le Mans Series. Add 3 separate electric motors, producing an additional 218hp and you have one mean and clean machine. Two of the three electric motors power the front wheels making this a four-wheel drive car and the third is connected to the 7-speed PDK transmission providing additional power to the rear wheels.

The liquid-cooled lithium-ion battery is located just behind the passenger compartment and can be charged by plugging the car into an electrical outlet as well as through regenerative braking. The 918 has 4 different drive modes. E-Drive (economy) allows the car to run purely on electric power for up to 16 miles as stated above. Hybrid mode combines the V8 with the electric motors for extended low-speed driving. In this mode, the 918 emits only 70 grams of CO2 per kilometer which is lower than most, if not all, of the current hybrids on the road like the Toyota Prius. This mode also produces an astounding 78 miles per gallon! The Sport Hybrid mode unleashes more of the V8′s power sending most of the power to the rear wheels. Finally, the driver can select the Race Performance mode which allows the V8 engine to rev to 9,200 RPM and releases the full 218hp available from the electric motors for a total of 718hp.

With the option for the driver to select the drive mode that best suits the driving situation, the 918 Spyder offers eco-conscious buyers the ability to own and drive a supercar without all of the guilt.

What is exciting to me about this car, is that this it is a look into the future of performance automobiles. While there are a number of all-electric sports cars in development, the technology being employed on the 918 Spyder will likely make it into sports cars most of us can afford in the near term.