The name, announced by Chief Executive Oliver Blume at Porsche's 70th anniversary celebration on Friday, means "lively, young horse", reflecting the iconic rearing black horse on Porsche's coat of arms.
"Our new electric sports auto is strong and dependable; it's a vehicle that can consistently cover long distances and that epitomizes freedom", Porsche executive board chairman Oliver Blume said at a ceremony in Stuttgart celebrating the company's 70th anniversary.
Porsche has announced that its Mission E will be sold under a different name as the Taycan. We'll re-visit the Mission E's specs shortly, but for now you should know that Porsche's upcoming EV will not, in fact, be called the Mission E when it becomes available for purchase in 2019. Full-electric and hybrid-electric cars will account for 25 percent of sales by 2025, the automaker said. Some of the spotted cars have been wearing exhaust exit surrounds that were fake and fitted to hide the car's identity.
This version of the Taycan is expected to be the flagship model; Porsche has invested a further 500million Euros (£437million) into its electrification strategy to develop additional versions of the vehicle. As we've seen in the past, something that resonates positively with potential buyers can be enough to persuade a vehicle company not to go ahead with a rebranding at all. The engine plant is being expanded to manufacture electric motors.
The vehicle was known as the Mission E since the unveiling of the concept in 2015, but it was always known that the production version will most likely feature a name that works with Porsche's current naming scheme.
The company says it plans to invest more than 6 billion euros (a bit more than $7 billion) in EVs over the next four years, doubling the investment it had originally planned.
Stefan Weckbach, Head of the BEV Model Series at Porsche, recently said that they want to make their first all-electric vehicle feel "like a real Porsche."