The look isn't necessarily indicative because, like the Delahaye 135s, a lot of Talbots were sold as bare chassis and then bodied to taste. The general consensus seems to be that it's a T26 chassis, c/n 90201 - although Martin Krejci follows Abeillon in saying it's a rebuilt T150 (originally c/n 82931). However, it seems to have been using an entirely non-standard engine of 4495cc in 1938 only - perhaps an interim development unit? Tony Lago had irons (well, smoke and mirrors anyway!) in several fires at that time, but the 1939 engine which eventually powered the MDs and the MC was 4483cc.
However, when 90201 ran at Le Mans in 1939 it was stated to be 4468cc! So, again non-standard, but this time smaller than the production units. Equally, I've seen 4464cc quoted for Talbot engines too, but I suppose 4cc is well within the margin of error for rounding of calculations.
Since Norbert Mahé's similar 82932/90101 retained its original 3957cc T150 engine - and Abeillon calls it a T150C - I'm not sure where that leaves us 
So, is it a T150C with a T26 engine, a T26 - or something else entirely?