Cobra reproductions have been around for decades, but AC Cars—the British firm behind the original Ace sports car that formed the basis for the Cobra—is giving them a new twist. AC announced Wednesday that it will launch its first all-electric Cobra.

Called the AC Cobra Series 1 Electric, the car is based on the first Cobra body style from 1962. Composite bodywork is mounted to a ladder frame similar to the original design, but with modifications for the electric powertrain.

The electric Cobra develops 308 horsepower and peak torque of 368 pound-feet, according to AC. With an estimated curb weight of around 2,750 pounds, the car can do 0-62 mph in 6.7 seconds, with a top speed of 120 mph. Range is estimated at 150 miles, likely as measured on the European WLTP testing cycle.

AC Cobra Series 1 Electric

AC Cobra Series 1 Electric

In addition to the Cobra Series 1 Electric, AC is launching a model powered by the 2.3-liter turbo-4 engine from the current Ford Mustang. Dubbed Cobra 140 Charter Edition, it has the same 1962 body style as the electric Cobra, and develops 350 hp.

Production of the Series 1 Electric and Charter Edition will be limited to 58 cars apiece, in reference to the 58th anniversary of the original Cobra. United Kingdom pricing starts at £138,000 (about $170,000 at current exchange rates) for the Series 1 Electric, and £85,000 ($105,000) for the Charter Edition. However, AC hasn't discussed plans to offer either model in the United States.

AC Car is a bit player in the modern auto industry, but retains the title of Britain's oldest automaker. Like Shelby American, AC has made so-called "continuation" Cobras a big part of its business. The skyrocketing values of original Cobras have created a fertile market for these cars.