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article imagePorsche unveils its first ever all-electric car — The Taycan

By Karen Graham     Sep 4, 2019 in Technology
Porsche chose Niagara Falls, a Chinese wind farm and a solar site in Germany to unveil its first all-electric sports car, underscoring the new Taycan’s central role in turning parent Volkswagen AG into the world’s leading seller of Evs.
Porsche went even further in the debut of the Taycan, opting to hold a livestream of the production Taycan’s formal unveiling, which is set to be simultaneously held in Canada, Germany, and China this morning, reports Bloomberg.
With more than 700 horsepower, the Taycan will be the flag-carrier in VW’s massive drive to unseat e-car pioneer Tesla Inc. The Taycan and the mass-market VW ID.3 will also be on display at next week’s Frankfurt auto show. Production of both vehicles will start later this year.
The Taycan is expected to be priced at around $90,000, while added amenities could raise the price to $200,000. Regardless, it is arguably one of the most eagerly-anticipated vehicle reveals of the year, according to Forbes.
The Porsche Taycan has been in development for years and is based on the critically-acclaimed Mission E sedan. It is expected to appeal to both the EV community and longtime Porsche owners, reports Teslarati.
And even more impressive, Porsche stands out from other European car companies as the only one to have completely abandoned diesel from its lineup last year. at the time, Porsche CEO Oliver Blume explained the decision: “It (diesel) is, and will remain, an important propulsion technology. We as a sports car manufacturer, however, for whom diesel has always played a secondary role, have come to the conclusion that we would like our future to be diesel-free,” he said.
The Taycan “is a turning point for Porsche and the industry as it raises the technical bar for electric vehicles beyond Tesla,” Bloomberg Intelligence analyst Michael Dean wrote in a report. The Taycan should “be profitable from launch given Porsche’s proven pricing power, albeit at vastly reduced margins as compared with gas-powered models.”
It will be interesting to watch the competition heat up after the unveiling today. The Taycan will now go head-to-head with Tesla's iconic Model S after Mercedes-Benz, Jaguar and Audi opted for SUVs to kickstart their electric-car offerings.
“Model S and X volumes have plummeted in the last two quarters and have been a huge drag on Tesla’s recent financials,” Sanford Bernstein analyst Toni Sacconaghi said in a note. And there has indeed, been a drag - primarily because of an aging product design and now, more direct competition.
More about Porsche, Taycan, Tesla model s, allelectric, Technology
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