Porsche Taycan EV May Be Bigger Business than Porsche 911

The Porsche Taycan EV could be bigger business for the German automaker than the 911.

Porsche announced this week that it is raising its estimated production output for the Taycan for 2020 to around 40,000 units. This is more than double its original first year production estimate and more than the 36,000 911s the automaker sold in all of 2018. If Taycan demand persists, it may prove to be a more popular product than the iconic rear-engine sports car.

Unlike many EVs that came before it, the Taycan will be profitable as well, with Porsche targeting strong 15 percent margins for the vehicle.

The German automaker also said it has received 30,000 pre-orders for the car already. The production Taycan won't debut until September, but the Porsche has been taking deposits from prospective customers who wish to reserve their spot in line for the highly anticipated electric sports sedan.

The Taycan will be built at the automaker's carbon-neutral Zuffenhausen plant in Stuttgart, Germany. It hired 1,200 new employees in the area in 2018 to help develop and build the vehicle, part of its 6 billion euro ($8.7 billion CAD) investment in new electric vehicles.

One version of the Taycan will be able to accelerate from zero to 100 km/h in around 3.5 seconds and will have an estimated driving range of around 500 kilometres. Additionally, the sedan's 800V electrical architecture will enable extremely quick fast charging that can add 100 kilometres of range to the battery in just four minutes.

More information on the Porsche Taycan will be available following its September debut.

*Porsche Mission E Concept shown

Porsche is predicting first year sales of over 40,000 units. 7/31/2019 12:05:00 PM