Renault's turbo hatchback EV racks up orders despite $176,000 price tag

By Gilles Guillaume

PARIS (Reuters) - Renault's limited-edition, electric remake of its iconic 1980 R5 Turbo petrol-engine hatchback, originally designed to compete in rally sports, drew 850 orders in its first week despite a 155,000 euro ($176,000) starting price, the carmaker said.

Renault plans to sell only 1,980 units of the 555-horsepower Renault 5 Turbo 3E electric vehicle, which boasts the body-built rear wings of its combustion-engine ancestor and can accelerate to 100 km (62 miles) per hour in 3.5 seconds.

That acceleration is possible thanks to two in-wheel electric motors in the rear wheels, a first for a production model vehicle.

In-wheel motors are stand-alone electric motors housed in all or some of the wheels of an EV, eliminating the need for axles and powertrains. Proponents say this frees up space inside EVs, adds power and extends battery range because the vehicle is lighter.

A spokesperson for Renault said the in-wheel motors for the Turbo 3E will be supplied by Protean, a UK-based specialist in this technology.

The spokesperson said Renault received 850 reservations for Turbo 3E in the first week after orders opened on April 22, with interest from Europe, Japan, the Middle East and Australia.

To secure the car, customers have to pay a 50,000-euro deposit and wait until 2027 when deliveries are expected to begin from Renault's Alpine plant in Dieppe, northern France.

($1 = 0.8806 euros)

(Reporting By Gilles Guillaume, Writing by Nick Carey; Editing by Emelia Sithole-Matarise)