Will this all-electric Porsche finally give Tesla a run for its money?

After five years of work and over $1 Billion invested, Porsche looks to be set to give Elon Musk and Tesla some sleepless nights with the September 4th official release of their new electric vehicle, the 2020 Porsche “Taycan”.

The name “Taycan” means spirited young horse,” Porsche says, a nod to the animal on the company’s crest. “The name has its linguistic roots in the East,” according to the firm.

It’s pronounced “tie-can”.

The Taycan will be one of the first electric cars on the market with an 800-volt battery, meaning more power and quicker charge times. Porsche claims the Taycan will have over 600 horsepower, 310 miles of range and be able to charge up to 250 miles of range in around 20 minutes using a 350 kW charger.

Porsche will price the new EV between the Cayenne and Panamera meaning it’d start out $86,000 and go to $104,000.

Check out the stack for a closer look at the prototype version and check back with us next month for an up-close look at the production model.