China is challenging Europe’s finest sports car manufacturers Lamborghini and Ferrari with the launch of a new electric hypercar at a fraction of the price tag. 

Chinese manufacturer GAC has shown off its stunning Aion Hyper SSR electric hypercar to the European market. 

The Milan launch is sure to turn some heads, despite a European release date for the model not yet agreed. 

With top supercars often costing millions of pounds, GAC’s new model could be a complete game changer. 

The car is on sale in China for the equivalent of just £140,000 and could provide a first-class driving experience for those on tighter budgets.

GAC claims that the Lamborghini and Ferrari’s hypercar monopoly has been "broken by China" in a clear move to position the new model alongside the top two Italian brands.

The new model is the latest EV design from China set to come in at staggering low prices after BYD entered the family car market with a similar strategy. 

From the outside, the curves of the SSR hypercar immediately stand out and is almost a replica of a McLaren P1 sportscar. 

Underneath its bonnet, the model certainly packs a pinch with GAC promising 0-62mph in just 1.9 seconds. 

The torque and acceleration are matched up with barrels of top speed as models are said to reach around the 155mph mark.

Owners can also take advantage of carbon fibre bodywork, wheels and brakes which are all fitted to the Aion. 

Alongside its performance features, GAC has ensured a hearty range with estimates putting the tidal at around 314 miles on a single charge. 

Inside, designers have fitted the car with sports seats and cruise control while a 14.6-inch infotainment screen sits at the centre. 

The cherry on top is the gorgeous gullwing doors and environmentally friendly interior with sustainable materials such as yarn and vegan leather used throughout.

In contrast, Ferrari’s latest limited-edition hypercar will be sold to consumers at an eye-watering £3.1million 

Only 799 examples of the new 1,184bhp V6 hybrid Ferrari F80 sports car will be produced making, it an ultra-rate buy. 

However, the specs actually end up lower in the combustion F80 than the EV Aion.

The Prancing Horse says the car will reach 0-62mph in around 2.15 seconds, down on the Aion’s sub-two-second estimate. 

But, the car's total top speed is up with estimates suggesting the model can exceed 217mph.