The official name of the Porsche Mission E is the… Porsche Taycan

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The Taycan "must be a Porsche first", Stefan Weckbach, vice president of Porsche's battery electric vehicle program, told The New York Times recently.

Meaning "lively young horse", in a reference to the animal on the company's crest, the Taycan will become Porsche's first electric sports auto when it enters production next year. 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.

The Taycan is the start of a broader electrification strategy at Porsche.

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

Taycan's power train will production more than 600 horsepower that will allow the electric auto to go from 0 to 60 miles per hour in under 3.5 seconds and to 124 mph on the track in less than 12 seconds, the company said. The electric 4-door is to spearhead Porsche's long-term electrification plans, with a range of plug-in hybrids and full EVs set to join it in the future.

The Porsche Taycan (codename: Porsche J1) is based on a dedicated electric vehicle platform. Features such as the flared haunches, LED tail-light strip and coupe-like rear end will remain to echo the looks of the 911 sports vehicle. By 2022, Porsche will invest 6 billion Euros in its electric vehicle programme with 500 million Euros being spent in the development of derivatives of the Taycan.

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Porsche has also shown a Mission E Cross Turismo concept, a wagon version of the electric vehicle. There will likely be more extreme versions of this auto in the future.

The four-seater sedan - formerly known by its codename, "Mission E" - will directly take on the Tesla Model S, reports Reuters, when it begins volume production in 2019. The engine plant is being expanded to manufacture electric motors. Announcing the name, the company has even released a teaser video that reveals that the Porsche Taycan features a fully digital instrument cluster - a first for a Porsche.

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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