The origin of the name can be seen in the Porsche crest, which features a leaping horse borrowed from the city of Stuttgart's coat of arms. The name "Taycan," Porsche says, translates to "lively young horse." It's an apt title for the freshest model in Porsche's stable. "Our new electric sports car is strong and dependable, said Porsche Chairman Oliver Blume. "It's a vehicle that can consistently cover long distances and that epitomizes freedom."
In addition to naming and dealer preparations, Porsche is undergoing expansion in order to build the Taycan. Porsche is setting aside a dedicated assembly for the EV at its Stuttgart-Zuffenhausen headquarters, as well as a new paint shop and a conveyor bridge to move the painted bodies and drive units to final assembly. The engine plant there is expanding to house electric motor production, and Porsche is planning a new body shop. The Taycan will be responsible for 1,200 new jobs in Zuffenhausen, and Porsche plans to invest more at its Weissach Development Center.
That investment is part of a larger plan to spend more than €6 billion (about $7.1 billion) in electrification by 2020. €500 million ($589 million) of that will be dedicated to other variants and derivatives of the Taycan. €1 billion ($1.2 billion) will go toward electrifying current products, while €700 million ($824 million) will go toward "new technologies, charging infrastructure, and smart mobility." Another several hundred million will go toward expanding production facilities.
Porsche says the Taycan will do 0-60 miles per hour in "well under" 3.5 seconds, thanks to two motors providing more than 600 horsepower. It'll offer a driving range of over 300 miles, at least on the generous European driving cycle.