Besides confirming the name, Porsche CEO Oliver Blume revealed the Taycan will be powered by two electric motors that produce a combined output of more than 592 hp (441 kW / 600 PS).
The name was announced overnight during an event to celebrate 70 years since it registered its first auto, the 356 "No 1" Roadster.
In addition to the new name, Porsche doubled down its investment in electrification Friday.
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The Porsche Taycan will be the automaker's first official battery-electric sedan.
Like it? Love it? 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. Porsche announced the name for its first purely electric model as part of the "70 years of Porsche Sports Cars" ceremony celebrating 70 years since the first 356. 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 auto. Set to be priced somewhere in the $85,000 range, the Porsche Taycan will boast a 0-62 miles per hour time below 3.5 seconds and will have a top speed in excess of 155 miles per hour.
When the Taycan finally does debut in production form sometime in the second half of 2019, it will likely look different from the images we've grown used to, all of which depict the concept. Porsche also says that it has "a continuous power level that is unprecedented among electric vehicles".
The central location of the batteries and twin-motor set-up will also give the car's technical architecture a better front-rear weight balance than combustion-engined cars, potentially allowing Porsche's engineers to soften the car's anti-roll bars to aid ride without hindering handling. From that additional investment, $588 million will be spent on the Taycan and its derivatives, which may include higher performance models or taller wagon Cross Turismo, another $1.2 billion for electrifying current Porsche vehicles, and more than $800 million for charging infrastructure and further research.