Porsche's first electric car will be called the Taycan

Prototype for production Porsche Mission E

Prototype for production Porsche Mission EEnlarge

"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.

At the special exhibition being held at the Porsche Museum, the Mission E concept vehicle is a significant part of the show. The name roughly translates to, "lively, young horse", a reference to the company's logo. So now you know. Porsche will begin production of the Taycan-pronounced tai-kan-next year. 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.

But Porsche's brand image is built on track performance not just straight line acceleration so, with the Taycan, Porsche promises a "level of continuous power that is unmatched by any other electric vehicle". Porsche says a four minute charge will be good enough to deliver approximately 100 km (62 miles) of range.

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The other likely change is that the door hinges on the Taycan are going to change dramatically from those of the Mission E. The concept vehicle had rear-hinged back doors, effectively opening up the whole passenger cabin.

Overall, the name fits in Porsche naming nomenclator.

In February, Porsche's head of electric vehicles, Stefan Weckbach, said the Taycan will be able to sustain its performance better than the Model S. At present, Porsche can comfortably steer anyone still unconvinced about the German automaker's ability to retain its race-won DNA in a new generation of all-electric cars towards the Panamera Turbo S E-Hybrid and say: Try me. And Taycan will arrive in 2019.

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The Taycan is expected to go on sale late next year. Porsche plans to use its existing engine plant to make the twin-motor drive units, which is being expanded accordingly.

Porsche's original goal had been to spend three billion euro ($3.53bn) on electromobility by 2022.

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

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