Porsche Taycan name confirmed for production version of Mission E

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Porsche is pursuing a three-pronged approach coinciding with the looming technology shift by introducing fully electric cars like the Taycan, developed under the project code name Mission E; plug-in hybrids; and combustion-engine vehicles that root back to the first 356. Although the Taycan shares a similar silhouette to the Panamera saloon, the Tesla Model S rival will be more compact and cheaper; entry-level versions priced between £60,000 and £70,000 mean it will carry only a small premium over its main rival.

Before you worry that Porsche isn't Taycan care of business, the new name is actually pronounced tie-con.

The Taycan is expected to arrive in 2019 and start around $75,000.

Despite its sports vehicle shape, the auto will have four doors.

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The company also marked the occasion by revealing a 911 Speedster Concept, an open-top version of its iconic sports vehicle.

Porsche is doubling down on electric cars, saying it will pour over €6 billion (about $7.1 million) into electromobility by 2022. Its two electric motors will produce a net output in excess of 600 horsepower, and it'll hit 60 miles per hour in less than 3.5 seconds. Porsche executives have said that more electric cars will follow. There will likely be more extreme versions of this vehicle in the future.

Porsche has also shown a Mission E Cross Turismo concept, a wagon version of the electric vehicle.

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.

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Power for the Taycan will come from two electric motors that will generate more than 600 horsepower and likely provide all-wheel drive. The new architecture the vehicle introduces will be used as a base for a fully electric model from Bentley.

A screengrab from the Porsche Taycan name announcement video. This setup will allow the Taycan to be charged to 80 percent capacity in just 15 minutes, changing the way electric cars charge in the future.

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".

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