Porsche has announced the third entry in its debut all-electric car lineup, the Taycan 4S, joining the Taycan Turbo and Turbo S that were announced last month. Although its $103,800 starting price isn’t cheap, the 4S is almost $50,000 cheaper than the $150,900 Taycan Turbo, and Porsche is referring to it as the “entry-level model in the series.”

There are two versions of the Taycan 4S available: the Performance Battery and Performance Battery Plus. Both are less powerful than the two more expensive Taycan models. Based on the released specs, the main effect of this appears to be in the car’s acceleration, with the 4S capable of doing 0 to 60 mph in 3.8 seconds, compared to 3 seconds for the Turbo and 2.6 for the Turbo S. The top speed of the 4S is also around 155 mph, which is 6 mph less than Porsche’s more expensive models.

Interestingly, despite the $50,000 price difference, the new Taycan 4S models are capable of a similar amount of range as the more expensive cars in the series. Porsche says you’ll get 407 km of range out of the Performance Battery Taycan 4S, and 463 km out of the Performance Battery Plus model. That’s compared to 412 km for the Turbo and 450 km for the Turbo S, meaning the Performance Battery Plus model of the Taycan 4S has the highest range of any Porsche EV. (All ranges are measured using the WLTP standard.)

Beyond their engines, the design of the Taycan 4S is broadly similar to Porsche’s existing electric cars. It has the same 800-volt charging system, all-wheel drive, and an exterior that looks to be unchanged compared to the more expensive models. The 10.9-inch infotainment display from the Taycan Turbo also makes a return.

Back in 2017, Porsche spoke about wanting to sell an electric car for under $100,000. The Taycan 4S isn’t quite that, but its announcement sees Porsche move much closer to its goal. The Taycan 4S with the Performance Battery will start at $103,800, while the Performance Battery Plus model will start at $110,380. The company is taking preorders for the Taycan 4S starting today, and it plans to release the car in Europe in January 2020 and in the US at some point in the spring.