Porsche AG named its first car 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. The moniker roughly translates to “a lively, young horse,” Chief Executive Officer Oliver Blume said Friday. Porsche both needs electrification to comply with tougher emissions rules and is embracing the technology because it allows for sporty driving that dovetails with the brand, he said.
“We are going to take the next big step next year,” when Taycan deliveries will begin, Blume said at the Porsche museum near the company’s headquarters in Stuttgart, where the brand celebrated the 70th anniversary of its first-ever sports car, the 356 model.
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