The parent company of Caparo, a small British automaker responsible for the batshit crazy T1, has entered administration.
The Caparo Group consists of a selection of businesses largely in the steel industry and has been badly impacted by the falling price of steel. Additionally, the company’s chairman, Angad Paul, died on November 8 in a suspected suicide after falling from his penthouse apartment.
Caparo the car company hasn’t released a statement about the dire situation of its parent company but it seems like if Caparo Group goes down, the sports car maker will as well. That will be despite the fact that the firm was developing an even more insane version of the Formula One inspired T1, dubbed the T1 Evolution.
That car was promising to have a powertrain delivering 700 hp and installed within an even more aerodynamic body than the original Caparo T1. Additionally, the T1 Evolution was set to receive a fixed roof as well as a stiffer suspension system, ABS and traction and stability control systems.
The Caparo T1 Evolution was set to have a sticker price of 1.1 million euros but it now seems unlikely the car will become a reality.