Silicon Valley-based startup Renovo Motors just unveiled one of the world’s most spectacular all-electric sports cars: the Renovo Coupe. The Renovo Coupe borrows its chassis from the Shelby CSX 9000 and it’s powered by a 500 horsepower electric motor and a 740 volt battery pack. But all that power doesn’t come cheap – only 100 units are planned for production and prices start at an astonishing $529,000.

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According to Renovo, its electric car can reach 0-60 mph in 3.4 seconds and it has a top speed of 120 mph. A running prototype of the Renovo Coupe was shown to the public for the first time last weekend at the Pebble Beach Concours d’Elegance in Monterey, California.

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Renovo’s founders, Christopher Heiser and Jason Stinson hope that the Renovo Coupe will be able to compete with the best supercars from Ferrari and Lamborghini. They also feel that the Renovo Coupe will fill a new space in the electric car segment, since Tesla no longer produces the Roadster sports car.

+ Renovo Motors