The Mission One, made by San Francisco-based Mission Motors, is reportedly capable of 150mph and is on sale now to US customers, with deliveries due in 2010.

Mission Motors’ founder, Forrest North, is a former Tesla employee who, in 2007, began work on converting a petrol-powered Ducati motorbike into an electric model. With funding from clean technology investors including Google founders Larry Page and Sergey Brin his dream has become a reality.

“As a motorcycle enthusiast and engineer, I knew I could combine my passion for motorcycles with my passion for innovation and create a motorcycle that truly sets a new standard in the perception of electric vehicles,” North said at the bike’s launch at the TED conference in Long Beach, California.

The bike is powered by lithium-ion batteries and will reportedly run for 150 miles between recharging, which takes only two hours.

It is yet to be tested on the road at 150mph, but a Mission Motors’ spokesman said they “have no doubt that this prototype will achieve its target speed”. The model demonstrated was a hand-built prototype. The first 50 limited-edition Mission Ones likely to sell for $68,995. A cheaper version of the Mission One is due to be announced this summer.

The Mission One  will appear at this summer’s TTXGP, a motorbike race on the Isle of Man that is billed as the world’s first clean emissions grand prix. “Mission are really breaking the barrier on speed, and they also have a team of people that has a lot of experience in electric vehicles,” said Azhar Hussain, TTXGP’s founder.