This translates to “lively young horse,” which coincides with the design of Porsches crest. Porsche Chairman Oliver Blume explains their reasoning for the decision.
“Our new electric sports car is strong and dependable; it’s a vehicle that can consistently cover long distances and that epitomizes freedom.”
The now-named Taycan will feature two motors pushing a total of 600 hp. This gives it a reported 0-60 time of "under 3.5 seconds." According to the New European Driving Cycle, it'll have a 300+ mile range.
Expect to see the official Taycan on lots sometime in 2019.