Small Spanish company Izaro announces GTE electric supercar

A small Spanish car company called Izaro has announced the GTE, an electric supercar.

Izaro claims that this car will offer Ferrari-rivaling performance, at a price of just $70,000, while emitting very little or no emissions. It will be available in a hybrid variant developing 416 horsepower, or an all-electric variant developing 490 hp. Lithium-ion batteries will store the electricity for both cars.

The GTE is based on the Factory Five Racing GTM chassis, which is very popular for electric/hybrid cars like this one. Izaro has constructed the chassis using a mix of aluminum, magnesium and high-strength steels.

The result is a claimed 0-60 time of under 4 seconds, and a top speed over 174 mph. The range on the hybrid will be 428 miles, while our source didn’t specify the electric car’s range.

Sounds promising? Well, don’t get your hopes up. Small projects like these often end up going nowhere.