The super car, to be named Caparo T1, will come at a price tag of 150,000 pounds (approximately Rs 1.17 crore) and will have all the features of a racing car.
To manufacture the Caparo T1, the group recently acquired automotive consultancy firm started by Ben Scott-Geddess and Graham Halstead, who developed the famous McLaren F1, Lord Paul said.
The subsidiary to manufacture Caparo T1 will be headed by Lord Paul's son Angad, who is the group's CEO Scott-Geddess becomes the design director of the new company while Halstead will be the engineering director.
Commenting on the group's move into advanced vehicle technology, Angad Paul said, "I warmly welcome this opportunity for the group to move up the value chain with this high value added proposition.
"We will use our vehicle technology company to add new material know-how to our existing aluminium and steel structural capabilities," he said. The new company will provide advanced technology development, materials engineering, and design services to mainstream automotive, motor sport and aerospace markets.
Coupled with its global manufacturing resource and capability, Caparo aims to accelerate the use of light weight materials in vehicle structures.
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