Hello Porsche Taycan: Tesla-rivaling Mission E gets its launch name

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Porsche continues to prepare its assault on Tesla, and on Friday the German automaker announced the production version of the Mission E concept will be called the Porsche Taycan (pronounced "tie-con").

The Taycan "must be a Porsche first", Stefan Weckbach, vice president of Porsche's battery electric vehicle program, told The New York Times recently. Some of the spotted cars have been wearing exhaust exit surrounds that were fake and fitted to hide the car's identity.

The company has previously been talking about a 0 to 60 miles per hour acceleration in 3.5 seconds and earlier this year, a Porsche executive said that the Mission E will be able to go long distances at high-speed, like traveling on the German autobahn, or to complete a few laps on the race track.

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

The Taycan is expected to arrive in 2019 and start around $75,000. Porsche executives have said that more electric cars will follow. Of that, €500 million of that will go to Taycan variants, with €1 billion toward electrification and hybrid versions of the existing range. Porsche CEO Oliver Blume told us: "We will think of different options and there will be more than one, with different levels of power". It also plans a crossover version of the auto, as previewed by the Cross Turismo concept that made its debut at March's Geneva Motor Show.

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To boost that range quickly, the auto will have 800-volt charging technology.

The all-wheel-drive Taycan use two electric motors - one on each axle - drawing their power from lithium ion batteries mounted in the floor. The new architecture the vehicle introduces will be used as a base for a fully electric model from Bentley.

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

Porsche AG named its first auto to directly compete with electric leader Tesla Inc. the Taycan, as the German manufacturer gears up for what will arguably be its most ambitious and potentially risky vehicle project ever.

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