Porsche doubles production of the electric car it hasn’t even released yet in run for Tesla’s market

Porsche is already having to double its production plan on the electric car it hasn’t even released yet.

The German carmaker known for its sports cars and racing heritage said stronger-than-expected demand has led it to boost production on its electric Taycan car from 20,000 to 40,000 units, the company confirmed to CNBC on Wednesday.

“We had been ready for it,” said Andrew Lennon, a manager of product communications for Porsche. “We had the ability to increase capacity from the beginning, and executives recently made the decision to go ahead.”

Porsche announced a second variation of the vehicle based on the Cross Turismo concept in October. The company began taking orders last summer and expects the car to be available for sale in the U.S. by the end of the year.

The Taycan is yet another example of several high-end electric cars expected to enter the market over the next few years. For example, Jaguar launched the I-Pace electric crossover last year, Audi plans to soon roll out its e-tron sport utility vehicle. Even Ford plans to offer a high-performance electric inspired by its Mustang sports car.

The sports car is expected to give Tesla a run for its money, or at least a run for its customers. Tesla sold 245,240 vehicles last year: 145,846 Model 3 sedans and a combined 99,394 Model S sedans and Model X SUVs.

The Taycan, a name the company says roughly translates to lively young horse, is expected to start at around $80,000, according to Electrek magazine.

Porsche sold 57,202 vehicles in 2018, almost half of which were its Macan crossover utility car. Its popular SUV, the Cayenne, had 10,733 in sales, and its signature 911 sports car sold 9,647 units. Sales of its 718 entry-level sports car and Panamera sedan made up the rest.

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