Audi has announced the 2020 A8 TFSI e will be priced from $94,000, plus an extra $995 for destination charges, when it goes on sale in the United States.

While the model costs $8,800 more than the $85,200 A8 55 TFSI, Audi says customers should be eligible for a federal tax credit of up to $6,795. That lowers the price difference to just $2,005 and makes stepping up to the plug-in hybrid a pretty wise choice.

The A8 TFSI e features a turbocharged 3.0-liter V6 engine, a 14.1 kWh lithium-ion battery pack and an electric motor that is integrated into the torque converter of the eight-speed automatic transmission. This enables the model to produce a combined output of 443 hp (330 kW / 449 PS) and 516 lb-ft (699 Nm) of torque. In terms of performance, the car can accelerate from 0-60 mph (0-96 km/h) in approximately 4.9 seconds and travel up to 17 miles (27 km) on electricity alone.

Also Read: A8 L 60 TFSI e quattro Is Audi’s First Electrified Flagship

This is a significant improvement over the standard A8 which was a turbocharged 3.0-liter V6 engine that develops 335 hp (250 kW / 340 PS) and 369 lb-ft (500 Nm) of torque. Thanks to the extra 108 hp (81 kW / 110 PS) and 147 lb-ft (199 Nm) of torque, the A8 TFSI e will leave the regular model in the rear-view mirror as it’s 0.7 seconds faster to 60 mph (96 km/h).

Audi didn’t release full specifications, but the A8 TFSI e has unique lighting units and standard 19-inch alloy wheels. The model also features a digital instrument cluster and infotainment system that show plug-in hybrid specific information such as charging status and available range.

Other features include a pedestrian warning system and several plug-in hybrid driving modes that can be accessed using the paddle shifters. The modes enable the A8 to travel on electricity alone or hold the battery charge until later in the journey.

Note: European model shown and price excludes $995 destination charge