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 has launched the new motorsport division ATS Corsa, and the first product is the RR Turbo customer race car.

2020 ATS RR Turbo race car

2020 ATS RR Turbo race car

First announced last September, the RR Turbo is now in production ahead of the start of deliveries this summer. It's priced to start from 132,000 euros (approximately $146,665) and designed to meet multiple FIA-sanctioned race series around the globe. Production is limited to 30 units per year.

The starting price is for a Clubsport model. A lighter model known as the Serie Carbonio features increased carbon fiber in the construction and will set you back 164,900 euros.

2020 ATS RR Turbo race car

2020 ATS RR Turbo race car

Available options on both versions include carbon-ceramic brakes, forged wheels, three-way adjustable suspension, an adjustable carbon fiber rear spoiler, and an integrated air jack.

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, ATS said.

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 considering the car only weighs 1,763 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.

ATS said the RR Turbo has been homologated for the FIA's Appendix J Group E2 SH classification. This makes it ideal for a number of series including endurance races to hill climbs and time attack events. ATS is also looking to launch its own one-make series should interest be sufficient.

ATS GT Launch Edition

ATS GT Launch Edition

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.

Interestingly, the RR Turbo originally started out life as a road car meant to serve as a spiritual successor to the ATS 2500 GT of the 1960s. No word if the modern ATS still plans to launch a road-going version of its handsome race car.