It's faster because it's more powerful, there's an extra 95PS over the F-Type I cited earlier.
People get confused over torque, power and acceleration. Power is really all that matters, in any situation. It's the rate of doing work. To accelerate a particular mass to a particular final speed, you need to be able to create a certain acceleration, for which you need to be able to generate a certain level of force.
There is a relationship between power and torque, but it's not especially relevant. All that matters is the amount of power that can be generated. It doesn't matter whether an electric motor has an advantage at low revs. Do you stay at very low revs when performing a 0-60 test? Of course not, you utilise the full range of the engine.
If the power curve was flatter, that would help, but of course this isn't possible and even if it were, there would be no point turning at ever higher revolution rates just to develop the same amount of power!
Aside from all that, 0-60 is very often a valid comparison figure, and sub-5 secs is normally a different league from "typical" models. Personally, I don't care that much. I don't need or desire that kind of acceleration.
You’re missing the point.
I understand it’s more powerful, but power and torque cannot be compared directly between ICE and EV.
In an ICE engine to increase them you need larger engines/turbos etc, which usually mean more complexity and greater fuel usage, even when not using the full power.
In an EV all you need is a larger motor with (essentially) a few more coils, more cells and slightly different power management system. You don’t loose efficiency like you do in an ICE engine, you don’t need more complexity.
The number of cells is usually a function of range, with the additional benefit of longer range vehicles being able to provide more instantaneous power as Vincent mentioned. The equivalent in an ICE vehicle would be doubling the size of the fuel tank and pump somehow making the engine more powerful. Obviously that doesn’t work with ICE, but does with EV.
The incremental cost of power in construction and cost of ownership (fuel efficiency and repairs) is minimal in EV relative to ICE, hence why Tesla’s can have such extreme acceleration and power, when they’re not really sports cars.
Basically power and range can be considered inverse in EVs to ICE. More power available in an ICE means less range, more power available in an EV is a (in part) byproduct of range.
It’s likely a longer range model of the I Pace will be released in future, and it will probably have more power as a byproduct. With ICE you choose a vehicle based on engine size a lot of the time, with EV the choice will be more a function of range.
Edit. It’s also worth looking at the torque and power curves of the Model S, it’s very different to what you’d expect from an ICE engine. Torque is actually flat from 0 up to about 5000 RPM (because it’s limited) which gives a linear power curve as well. That’s unlike an ICE engine where you need to get to a few thousand RPM to get to peak torque.