Porsche's new electric vehicle, which carried "Mission E" as its concept name for a long time, will be put on the market under the name Taycan and the name can be translated as lively, young house, the company said.

Taycan, a combination of the words "tay" and "can" in Turkish, is the second Turkish name used after Touran was used by the Volkswagen Group, according to a report in Turkish daily Habertürk.

Porsche AG announced earlier this year that by 2022 the sports car manufacturer will invest more than 6 billion euros in electromobility, focusing on both plug-in hybrids and purely electric vehicles.

Porsche showcased Mission E for the first time at the International Frankfurt Motor Show in 2015, while its future name long occupied the agenda of the German press. Speaking at a meeting held at the Porsche Museum on the 70th anniversary of Porsche sports cars, CEO Oliver Blume announced that the name of the new car will be Taycan, which means "the vitality and mobility of a young horse" in English.

Thus, following Touran in the Volkswagen Group, a second car has been commercialized with a Turkish name.

Expected to be on the market next year, Taycan is rated at 600 horsepower. The vehicle promises an ambitious range of 500 kilometers and can be fully charged within 15 minutes, according to factory data.

Porsche's new vehicle will be produced at the brand's Zuffenhausen factory.

After being shown in Frankfurt in 2015, it was subject to a new set of electrical tests.

At one test carried out in the Arctic Circle in a temperature of minus 40 degrees Fahrenheit, Taycan was tested against its most serious competitor Tesla Model S and Model X.

The Turkish name of Porsche's electric car was discussed on various blogs where Germans car enthusiasts gather. There were those who found Taycan to be compatible with Cayman regardless of the language, while others regarded the issue with a more nationalistic approach.

When Volkswagen put the Touran on the market, it discovered the name had already been copyrighted by the Turan family who repair cars and live in Germany. Although the figure was not officially announced, two new Tourans, one Touareg and at least 200,000 euros was paid in cash to family representative Ali Turan for naming rights.