(Pocket-lint) - After going under the Mission E concept name, Porsche has finally given its first all-electric sports car an official name: Taycan. 

The name roughly translates to lively young horse, fitting, seeing as a prancing horse has featured in the company's emblem since 1952. Along with  unveiling the official name, Porsche has revealed some official specs of the Taycan, which will go into full production in 2019.

At the heart of the car will be two permanently excited synchronous motors (PSM) which combined will deliver over 600hp, catapulting the Taycan to 62mph in under 3.5 seconds and 125mph in under twelve. Porsche also claims a driving range in excess of 310 miles on a single charge, based on the NEDC.

Oliver Blume, Chairman of the Executive Board of Porsche AG said of the Taycan: "Our new electric sports car is strong and dependable; it’s a vehicle that can consistently cover long distances and that epitomises freedom."

Porsche has also pledged its commitment to an electric future, saying it will invest some six billion Euros into electrification by 2022, double its original planned budget. 500 million Euro will be spent on developing variants of the Taycan, which may follow similar nomenclature to Porsche's current lineup: S, GTS etc, although this isn't confirmed. One billion Euro will be spent on electrifying vehicles in the current lineup and the rest will be spent on new production facilities, charging infrastructure and smart mobility. 

Speaking of charging infrastructure, Porsche has also announced a new Porsche Charging Service app that will let drivers know which charging stations are nearby and which are vacant, as well as give them up to date pricing information. 

"With the Porsche Charging Service, we are offering our customers a central digital platform that simplifies every aspect of the charging process. As a result, it is even easier to integrate charging into everyday life", said Detlev von Platen, Member of the Executive Board responsible for Sales and Marketing at Porsche AG.

The charging service is currently available in Germany, Austria, Switzerland, Denmark, the Netherlands, Belgium and Finland and will roll out to other countries from the end of 2018. The app does demand a small monthly fee and of course there will be the added cost of using the charging stations, which vary from vendor to vendor. 

Writing by Max Langridge.