The growing functionalities implemented on vehicles have increased the importance of simulation in the design process. This complexity is mainly driven by the introduction of electrified powertrains, Advanced Driver Assistance Systems (ADAS) and Automated Driving Systems (ADS). Additionally, the automotive industry must reduce development times and cost, while keeping flexible development capabilities and fulfilling demanding regulation standards for safety-critical systems. Existing testing frameworks based on simulation implement typically analytical models to ensure real-time performance, and provide limited flexibility to perform Hardware in the Loop (HiL) setup based tests. In this work a vehicle modelling approach which guarantees high accuracy and real-time capabilities is proposed. Moreover, the proposed approach is validated firstly with real vehicle data, demonstrating that it can fairly reproduce the behaviour of the vehicle tested; and secondly, in a HiL setup to demonstrate the real-time execution capabilities of the approach.