Porsche Taycan: Mission E's production name revealed, here in 2020

Porsche Taycan: Mission E's production name revealed, here in 2020

We've been waiting to hear what Porsche will call the production version of the Mission E electric auto and now we have it - Porsche Taycan. 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.

"We are going to take the next big step next year", when Taycan deliveries will begin, Blume said at the Porsche museum near the company's headquarters in Stuttgart, where the brand celebrated the 70th anniversary of its first-ever sports auto, the 356 model.

Despite its sports vehicle shape, the auto will have four doors. Set to be priced somewhere in the $85,000 range, the Porsche Taycan will boast a 0-62 miles per hour time below 3.5 seconds and will have a top speed in excess of 155 miles per hour. The existing engine plant is being expanded to manufacture electric motors, and a new body shop will also be developed.

Porsche has said it plans to double its investment in hybrid and fully electric vehicles to more than 6 billion euros (£5.2 billion) by 2022 as parent Volkswagen (VOWG_p.DE) seeks to overcome an emissions-cheating scandal and tap into growing demand for greener transportation.

All-wheel drive is expected to be standard on all versions initially, but there is the possibility of Porsche launching a more affordable rear-wheel-drive edition in the future.

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The Porsche Taycan will debut the company's 800-volt charging system called Porsche Turbo Charging that offers ultra-fast charging. The new architecture the auto introduces will be used as a base for a fully electric model from Bentley.

The oriental name also signifies the launch of the first electric sports vehicle with the soul of a Porsche.

When the battery is depleted, it can be rapidly recharged in just a matter of minutes.

Set to likely be unveiled later in 2018-possibly at the 2018 Los Angeles auto show-the Taycan will square off with the Tesla Model S, though it will also face competition in the form of Jaguar's I-Pace and even its crosstown cousin, the Audi e-tron, when it arrives in the U.S.

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