The high performance car will take less than four seconds to accelerate from 0 to 60 mph.
The car is expected to cost around 100,000 pounds when it hits the market.
The two-seater's bodywork boasts paper-thin solar panelling that could fully charge the battery in just 1.5 hours.
However, this time will be reduced to just six minutes with a new prototype battery.
A full battery would enable the drivers to cover more than 200 miles or to race around a track for at least an hour.
An advanced alternating current induction motor with a power output of 212 kilowatts will propel the Formula AE.
In fact, the chassis will be constructed from lightweight aluminium and super strong steel in a Formula 1-style monocoque shell.
Rory Handel and Maxx Bricklinas from Beverly Hills, California designed the sleek motor of the car, and they expect the prototype to be completed in August.
"The Formula AE car embraces a rarely thought of alternative source of energy," the Telegraph quoted a RORMaxx spokesman as saying.
He said: "The target market would be the sports car, track day, eco-concerned auto-enthusiast. In addition, those enthusiasts who support and would want to promote the future development of revolutionary green technologies." (ANI)