Series production of the first purely electric Porsche is set to begin next year. The vehicle, previously operating under the working title "Mission E”, has now been given its official name: Taycan.

Porsche says that 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.

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 more than 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; multiple launches in a row will be possible without a loss in performance, and the vehicle’s maximum range will be more than 300 miles (483 km) as measured in accordance with the New European Driving Cycle (NEDC).

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 €6 billion in electromobility by 2022, doubling the investment that the company had originally planned.

Of the additional three billion euros, some €500 million (US$581 million) will be used for the development of Taycan variants and derivatives.

Around €1 billion will go for electrification and hybridization of the existing product range, several hundred million for the expansion of production sites, and around €700 million for new technologies, charging infrastructure, and smart mobility.

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.