Last month the Renovo Coupe broke cover after four years of stealthy development, launching with a wave of enthusiasm for an electric supercar that lays claim to 1,000 lb-ft of torque. The Wall Street Journal reports that Renovo has secured funding through True Ventures, all but guaranteeing the Shelby Daytona based EV comes to market by next year.
With 500 horsepower and a 100-mile range provided by a small and lightweight 30 kWh lithium-ion battery pack, the Renovo Coupe coupe manages to tip the scales at just 3,250-lbs. That low weight is the heart of a track-oriented EV that includes a high-tech battery pack that’s been tweaked to provide better performance and cooling. Renovo opted for a smaller battery to keep weight low while working on charging technology, envisioning quick 30-minute fill-up during track outings with a DC charger. Each car will cost about $529,000, and deliveries are supposed to begin by next year.
If that all sounds good, then there shouldn’t be any question as to why True Ventures invested “seven figures” of equity into relatively unknown company. Renovo’s founders envision a company rivaling Ferrari or Lamborghini for control of the high-end market, and may eventually license its technology to other automakers. The focus on the high-end of the EV market may better set the company up for success, rather than trying to achieve scales of economy right from the get-go.
With many start-ups struggling just to get basic EVs onto the market, the Renovo Coupe could go from debut to delivery in less than a year thanks to True Ventures.