Porsche to pose a challenge for Tesla Model S with its new full-electric Taycan sports car

Porsche to pose a challenge for Tesla Model S with its new full-electric Taycan sports car
  • Porsche announces its full-electric Taycan Sports car to be launched in the next fall.
  • Porsche claims the current Tesla users have shown the greatest interest in its new offering.
  • The German manufacturer is targeting record-high retail sales following the launch of Taycan.
  • Taycan sports car will be comparable to Tesla Model S in terms of size and performance.
  • Depending on the model, Taycan sports car will cost between $103,800 and $185,000.

Tesla’s reputation as the leader of the automotive industry in electric cars niche is again challenged by Porsche that plans on launching an all-new Taycan full-electric sports car. According to CEO Klaus Zellmer, the potential U.S based customers showing interest in Porsche’s full-electric offering have the greatest number of those who currently own a Tesla.

Current Tesla, Mercedes, BMW, And Audi Owners Showed The Greatest Interest In Porsche’s Taycan Sports Car

The CEO further added that almost 50% of the potential customers who have shown genuine interest in the Taycan sports car were the current and loyal customers of Porsche. Other than Tesla, the current customers of Mercedes-Benz, BMW, and Audi contributed the most to the count of interested customers. The German automobile manufacturer, however, chose not to divulge the exact number of potential customers at this stage.

In a rough estimate, Porsche had previously declared that around 20K people from across the globe have shown interested in the Taycan sports car. Porsche representative had also highlighted that the count doesn’t include the potential customers who opted to receive the required information about Porsche’s all-electric sports car via online registration.

According to Porsche, following the launch of Taycan in 2020 in the United States, the company anticipates repeating its pattern of marking record-high retails sales in the U.S. As of October, domestic retail sales for Porsche were printed 6.5% higher, that fueled expectations for the car manufacturer to beat 2018’s record-high retail sales of 57,202 in the U.S.

Information Revealed So Far About Porsche’s Taycan Sports Car

Further information revealed about the Taycan sports car so far include its resemblance in terms of size and performance with that of Tesla Model S. For the base model (Taycan 4S), Porsche has announced a starting price of around $103,800. For the Taycan Turbo S (top-end model), the price is expected to be significantly higher, around $185,000. The top-end Model S from Tesla, on the contrary, is available for purchase at $99,990.

Automotive News cited sources from Porsche to have stated that the Taycan sports car is expected to hit the market by the fall of 2020. Performance specifications for Taycan released so far include a 0-60 mph of under 3 seconds, and a top speed of over 160 mph. Porsche’s Taycan can be expected to do under 300 miles on a single charge while Tesla Model S does over 370 miles.

Porsche has performed well in the stock market in 2019 so far. Having started the year at around €50, it printed a year-to-date high of €70 earlier in November.

By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.
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