An electronic car developed by Drayson Racing Technology has broken the land speed record, smashing through the previous record by over 25mph.

The car reached 201.2mph (328.6km/h) at an RAF base in Yorkshire and was driven by the company’s chief executive Lord Drayson. The previous record was 175mph, set in 1974.

The company hopes that by breaking the speed record with its lightweight Lola B12 69/EV car it will highlight the potential for professional racers.

Speaking to the BBC, Lord Drayson said: “What it, I hope, shows to people is just what the future potential of electric cars is.”

He went on to say that by setting the world record in Britain he hoped to show that Britain is a world leader in electronic motorsport engineering. He also hopes that the technology he developed for the car can also be used in every day vehicles.

The car was developed after Drayson Racing was founded in 2007 by Lord Drayson who at the time was a minister in government. The firm adapted a Le Mans Series car with a recycled carbon fibre chassis and 20 kWh battery which has 850 horsepower to reduce the weight of the vehicle, which had to weigh less than 1,000kg to qualify.

The company now hopes to compete in the Formula E championship, which begins in London in September 2014 and will race electronically powered vehicles. Drayson Racing Technology looks set to have a new car designed by 2015 for the event.