Porsche’s first electric vehicle to be called Taycan

The name was confirmed today, at the official opening of the "70 Years Porsche Sportscar" special exhibition at the Porsche Museum in the Zuffenhausen district of Stuttgart, Germany.

The Taycan will be the first of Porsche's electric models but the carmaker has big plans to go the electric way. The name roughly translates to, "lively, young horse", a reference to the company's logo.

Known as the Mission E until today, Porsche said its upcoming battery electric sports vehicle will be called Taycan.

Although it's not due for reveal until 2019, ahead of arriving in showrooms in 2020, Porsche has already racked up thousands of test miles in mules that appear to be further advanced than regular cars at this stage of their development process.

A quick refresher: The Taycan is a sport sedan with an electric powertrain riding on a Porsche-developed platform code-named J1. Porsche executives have said that more electric cars will follow.

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Despite its sports vehicle shape, the auto will have four doors. The Taycan will go on sale in 2019, offering a four-door alternative to the Tesla Model S. While final performance figures haven't been shared for the vehicle, Porsche is talking about a 0-62 miles per hour time of around 3.5 seconds. Of that, €500 million of that will go to Taycan variants, with €1 billion toward electrification and hybrid versions of the existing range.

The all-wheel-drive Taycan use two electric motors - one on each axle - drawing their power from lithium ion batteries mounted in the floor.

Over-the-air updates will be possible on the Porsche Taycan, upgrading on-board infotainment systems and safety tech, but also offering to boost power if the customer wishes.

Tesla CEO Elon Musk's naming strategy is racier in a different way: He was shooting to have the Model Line up read S, E, X, Y, until Ford scuppered his "E".

With new so-called J1 architecture that will enable fast-charging to 80% in just 15 minutes, the Taycan will reach the market with one of the most high-tech powertrains used on an electric auto yet.

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