During the reveal Thursday, Jaguar even staged races between the two vehicles.

Jaguar revealed its first battery electric vehicle Thursday, and it appears to be a direct competitor to the Tesla Model X sport utility vehicle.

Like the Tesla Model X and Model S, the I-PACE is powered by two electric motors. Like a Tesla it has a trunk where the engine would otherwise be.

Notably, the car is available now.

"As of this moment, it is available to own," said presenter Jack Whitehall, at the unveiling event held at the Jaguar Land Rover manufacturing facility in Graz, Austria.

The car has a single-speed automatic transmission, common in electric vehicles. Jaguar estimates the I-PACE has 240 miles of range on a single charge. It goes 0-60 mph in 4.5 seconds.

Jaguar designed the battery to last 10 years, said Ian Callum, director of design.

The car is also loaded with tech inside, like a navigation system that suggests nearby charging stations, and the ability to learn and adjust settings inside the vehicle to match a driver's preferences. The I-PACE also has an Amazon skill that works with its affiliated mobile app.