http://www.detroitnews.com/story/business/autos/foreign/2018/06/08/porsche-names-electric-car-taycan/35850723/

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 is derived from oriental words and describes "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.