Not going to happen. A 700hp electric motor is going to make several thousand ft-lbs of torque down low. 700hp is over 500,000W of power. That's a lot to draw, and will require lots of storage. That's also a lot of heat to cool down even at 90% efficiency.

Here are a few Prius electric motor specs (hey, it's on it's 3rd version):
HP = 67
TQ = 295
Battery weight = 100 lbs
Battery capacity = 1300 W/Hrs

Scale that up to 700hp and that's 3000ft-lbs of torque. Hook that up to a Prius battery and go full blast and it'll last a little over 9 seconds. Want to go longer, start adding up the 100 lb batteries. If they're using Lithium, improve your numbers by about 20-30%.