Elation Freedom offers a choice between all-electric or a gas-only powertrain

The Freedom is Elation Hypercars' entrant in the realm of hyper EVs. However, it may also become the first hypercar to be sold with either an all-electric or conventional gasoline-powered engine. Freedom was initially developed in Argentina where company founders Carlos Satulovsky, Mauro Saravia Acosta, and Pablo Barragan first met to build an ultralight aircraft factory.

Apparently, the three gentlemen shifted their attention to building cars. The Freedom has classic hypercar proportions with a low and wide stance, a sloping greenhouse canopy, and a large rear spoiler. According to Elation, the Freedom's styling is a mashup between the Koenigsegg Jesko and all-new C8 Chevy Corvette.

But with magnificent gullwing doors like in a GMA T.50, the Freedom emanates a distinctive, high-performance vibe. Built on top of a bespoke carbon-fiber monocoque chassis, the Freedom has carbon-fiber body panels to save weight.

In all-electric form, Elation Freedom comes in two flavors. The base trim has three electric motors and an all-wheel drivetrain with torque vectoring. It also has a 100 kWh T-shaped lithium-manganese-nickel battery pack good for a claimed 300 miles of range. In this configuration, the Freedom has a target weight of around 3,637 pounds (1,650 kgs) and an output of 1,427 horsepower.

Next, it also comes in a four-motor setup with two electric motors in each axle. The combined output is 1,903 horsepower. This model has a slightly larger 120 kWh battery pack good for around 400 miles of range. And with four electric motors, it has enough grunt to keep up with other hyper EVs like the Lotus Evija and Pininfarina Battista.

Both electric versions have a single-speed gearbox in the front axle and a two-speed transmission in the rear. According to Elation, the quad-motor version accelerates to 60 mph in 1.8-seconds and has an electronically-governed top speed of 260 mph.

On the other hand, the Elation Freedom is also available with an internal combustion gasoline motor. Affectionately called the Freedom Iconic Collection, the weapon of choice is a burly 5.2-liter V10 engine with 750 horsepower, sending power to all four wheels courtesy of a seven-speed dual-clutch gearbox. And with no cumbersome battery pack and electric motors, the ICE version will tip the scales at just 2,850 pounds.

Meanwhile, the Freedom has independent multi-mode suspension with electro-hydraulic ride height adjustment and damping control. Stopping power is courtesy of bespoke Brembo carbon-ceramic brakes with ABS, while traction is ensured by sticky Michelin Pilot Sport Cup 2 tires.

Elation Hypercars is currently building a prototype model in its headquarters in San Jose, California, and is currently accepting reservations for both the Freedom and Freedom Iconic Collection. The company plans to release the first production model by 2022. The base prices are expected to start at around $2-million for the EV model and $2.3 million for the ICE version.