There's now a new option for buyers looking for an affordably priced but highly competitive race car.

Historic Italian performance marque Automobili Turismo e Sport this week launched the new motorsport division ATS Corsa and RR Turbo customer race car.

The RR Turbo is priced from a very reasonable 110,000 euros (approximately $121,500) and designed to meet multiple FIA-sanctioned race series. Some mentioned by the company include Germany's VLN, France's VdeV, and pretty much all European hill climb events.

The RR Turbo was fully developed in-house and features an extremely light chromium molybdenum space-frame chassis with a mid-engine layout. The chassis is wrapped in a lightweight body shell that has been shaped to optimize downforce.

2020 ATS RR Turbo race car

2020 ATS RR Turbo race car

Power meanwhile comes from a Honda-sourced 2.0-liter turbocharged inline-4 tuned to deliver over 600 horsepower. Not bad at all considering the car only weighs 1,720 pounds. The engine is mated to a 6-speed sequential transmission, with both units forming a single structural element just like in Formula One. Multiple components are mounted to this structure including the suspension, exhaust, and rear wing mounts.

Despite its low price tag, the RR Turbo still comes with premium elements including double wishbone pushrod suspension with electronically adjustable dampers, carbon-ceramic brake rotors, and Michelin tires.

Deliveries of the RR Turbo are scheduled to commence by spring 2020.

If heading to the track isn't your thing, ATS also offers a road car. The company's GT supercar, launched in 2017, is still available and offers up to 700 hp.