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 |  Feb 18 2011, 12:14 PM

Factory Five is a company mainly known for their inexpensive, popular Cobra kit cars, but the company has dabbled in original designs more than a few times. Their GTM supercar is a looker with Corvette power, and a rare beast at that. Now the company is expanding their own designs with a mid-engined convertible under 2,000 lbs, and packing the running gear from a Subaru Impreza WRX.

The car packs an impressive amount of specs. The target weight is 1,800 lbs, on a space-frame chassis with a Lotus-sized 95″ wheelbase. The two-seat roadster will have a removable hard top, and instead of heavy paint it will use gel coat panels. But what’s more impressive is the target price: the kit will be $9,900, and a completed car will be $15,000. Supply your own WRX engine (comparatively a dime a dozen, though other engine options will be available) and running gear and you’ll have a fun, lightweight performer for half the cost of a used Elise.

[Source: Factory Five]