Caparo's Rs 1.17 cr racer to flag off from India

Swraj Paul's Caparo group has formed a subsidiary that will manufacture a 1,000 BHP "super car" by the end of this year, the first of which will be marketed in India.

The super car, to be named Caparo T1, will come with a price tag of ¤150,000(approximately Rs 1.17 crore) and has all the features of a racing car.

To manufacture the Caparo T1, the group recently acquired an automotive consultancy firm started by Ben Scott-Geddess and Graham Halstead, who developed the famous Mclaren F1, Paul said. The subsidiary to manufacture the Caparo T1 will be headed by Paul's son Angad, the group 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 added.

The new company will provide advanced technology development, materials engineering, and design services to mainstream automotive, motorsport and aerospace markets.

Coupled with its global manufacturing resource and capability, Caparo aims to accelerate the use of light weight materials in vehicle structures.

Angad said the company would market the Caparo T1 in the niche low-volume segment of the market. "This ultra-high performance road and track car is designed for low-volume production to demonstrate the company's technical know-how and competence in whole vehicle design," he added.

The car will be powered by a 2.4-litre, V8 engine, which the company has branded as Caparo V8. The engine will have the capacity to deliver 480 BHP at 10,500 RPM.