HERNDON, VA - Audi of America's president says the company will build the E-tron all-electric sports-car concept that debuted last month at the 2009 Frankfurt Auto Show, according to Inside Line. The two-seater will be at the running-prototype stage within two years, said Johan de Nysschen, and it will be on sale in the U.S. by late 2012.

The E-tron has four electric motors, one in each axle - "a true Quattro," says Audi - and a lithium-ion battery pack positioned behind the car's seats. The car makes 313 hp and 3,319 lb.-ft. of torque and can reach 60 mph in less than 4.8 seconds. Top speed is 124 mph and driving range is said to be 154 miles.

Audi said at the Frankfurt show that the E-tron "belongs in the major leagues of sports cars." It should offer serious competition to the likes of Fisker and Tesla when it comes out on the U.S. market. No pricing or other details were announced, according to Inside Line