We weren't sure what Taycan was supposed to mean, either.

Forget the Porsche Mission E because the German brand says that the version of its first electric vehicle coming to dealers in 2019 is called the Taycan. The name apparently means a "lively, young horse," according to Porsche Boss Oliver Blume, CNBC reports. The title is a reference to the horse on the city of Stuttgart coat of arms that also appears on the Porsche emblem. 

Spy shots show the Taycan as sleek sedan that sort of looks like the result of stretching the 911 into a four door. A low nose features LED headlights, and there's a gently sloping roof that lends a coupe-like silhouette. Inside, expect Porsche to pack the four-door with the company's cutting edge equipment.

 

The range-topping Taycan will reportedly have over 600 horsepower (447 kilowatts) from its electric motors and will be able to reach 62 miles per hour (100 kilometers per hour) in less than 3.5 seconds. Porsche also promises a driving range over 311 miles (500 kilometers) on a charge. The base model will start around $85,000 and will allegedly have about 402 hp (300 kW).

Gallery: Porsche Mission E Prototype Production

Porsche has constructed a new factory specifically for electric vehicles at its Stuttgart campus. From the start, the plant can build 20,000 vehicles a year, but there's room to expand. The recent Cross Turismo concept hints at how the sedan would look at a wagon, and there are rumors of the company considering coupe and convertible versions, too. The company believes that a quarter of its global sales could be battery electric vehicles by 2025, according to CNBC.

Source: CNBC via Reuters, Porsche

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Gallery: 2015 Porsche Mission E concept

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"Mission E" to become the Porsche Taycan
 

Porsche announces the name of its first electric sports car
Atlanta, Georgia. The future of mobility is another step closer: Series production of the first purely electric Porsche is set to begin next year. In preparation, the vehicle previously operating under the working title "Mission E” has now been given its official name: Taycan. The name can be roughly translated as “lively young horse,” referencing the imagery at the heart of the Porsche crest, which has featured a leaping steed since 1952. “Our new electric sports car is strong and dependable; it’s a vehicle that can consistently cover long distances and that epitomizes freedom,” Oliver Blume, Chairman of the Executive Board of Porsche AG, explains. The Eurasian name also signifies the launch of the first electric sports car with the soul of a Porsche. Porsche announced the name for its first purely electric model as part of the “70 years of Porsche Sports Cars” ceremony.

Two permanently activated synchronous motors (PSM) generating a system output of over 600 horsepower accelerate the electric sports car to 60 miles per hour in well under 3.5 seconds and to 124 miles per hour (200 km/h) on the track in less than twelve seconds. The Porsche Taycan will also offer a consistent level of power that is unprecedented among electric vehicles: multiple launches in a row will be possible without a loss in performance, and the vehicle’s maximum range will be over 300 miles as measured in accordance with the New European Driving Cycle (NEDC). 

Names with meaning 
At Porsche, the vehicle names generally have a concrete connection with the corresponding model and its characteristics. The name “Boxster” describes the combination of the boxer engine and the roadster design; Cayenne denotes fieriness; the Cayman is sharp and agile; and the Panamera, inspired by the Carrera Panamericana long-distance race, offers more than any standard sedan. The name Macan is derived from the Indonesian word for tiger, with connotations of suppleness, power, fascination, and dynamics.

Future investment doubled
Porsche plans to invest more than six billion Euros in electromobility by 2022, doubling the investment that the company had originally planned. Of the additional three billion Euros, some 500 million Euros will be used for the development of Taycan variants and derivatives, around one billion Euros for electrification and hybridization of the existing product range, several hundred million for the expansion of production sites, and around 700 million Euros for new technologies, charging infrastructure, and smart mobility.

Extensive construction and expansion at the Stuttgart-Zuffenhausen headquarters
At the Porsche headquarters in Stuttgart-Zuffenhausen, a new paint shop, dedicated assembly area for the Taycan, and a conveyor bridge for transporting the painted bodies and drive units to the final assembly area all are currently being built. The existing engine plant is being expanded to manufacture electric motors, and a new body shop will also be developed. Investments are also planned for the Weissach Development Center. Production of the Taycan is creating around 1,200 new jobs in Zuffenhausen alone.