Caparo CEO Dead, Massive British Steelmaker And Once-supercar Maker In Doubt

Aaron Cole
by Aaron Cole
caparo ceo dead massive british steelmaker and once supercar maker in doubt

Caparo Industries chairman Angad Paul died Nov. 9 in an apparent suicide just days after the steelmaking company his father founded, and Angad ran, announced massive job cuts and forced administration in Britain, according to The Guardian (via Autoblog).

Caparo Industries is the parent company of Caparo Vehicle Technologies, which produced the Caparo T1 and was planning a higher-end version of the car to go on sale.

The Caparo T1, which was developed with help from McLaren engineers, lived on the fringes of the supercar market with only 16 examples sold in the UK for around $360,000. It was also built at a short-lived plant in the U.S. Prince Albert of Monaco helped unveil the car in 2006 and it later appeared in several racing events around the world, including Goodwood.

Paul, who took over the company from his father in 1996, expanded the business beyond steelmaking into cars, design, hotels, private equity investments and aerospace. Paul is listed as a producer in the Guy Richie movies “Snatch” and “Lock, Stock and Two Smoking Barrels.”

According to The Telegraph, Caparo Industries faced difficult competition from cheap imported steel, a rising British pound and high energy prices. In October, the company looked for funding to keep it from going bankrupt.

The steelmaker employed roughly 1,800 people — of which more than 450 were recently laid off — and the company’s future is in doubt.

The next-generation T1, dubbed T1 Evolution, was reportedly being shown to interested buyers.

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  • Voyager Voyager on Nov 17, 2015

    I could have understand the Caparo T1 if it were a separate FIA race class. It looks gorgeous, like an enclosed F1 car. However, the deceased would have done a better job if he had looked where the automotive market is heading.

  • Davekaybsc Davekaybsc on Nov 17, 2015

    Wasn't this the car that kept trying to burn itself to the ground, including when several journalists were inside, as well as Jason Plato? (Leading to Top Gear calling him "baked potato" IIRC.) Aside from that little issue, it also seemed to break constantly. Doesn't seem like it would be a huge loss if it went away, there are loads of other hyper fast track day specials available from tiny British firms, like Radical whose cars actually work and dominate lap times pretty much every where they show up.

  • MaintenanceCosts Will the Bronco have a four-motor configuration a la Rivian? That seems to me like the right approach for an EV off-roader. Enables lots of neat tricks.
  • Lou_BC ERay? A southern model will be the BillyRay.
  • Lou_BC I've never used a car buying plan service. My Costco membership did get me 1,000 cash back on my last truck.
  • Jeff S I can understand 8 cars is a bit much unless you are a serious collector. I always loved the Challenger when it first came out and now. I don't need a car like this but I am glad it exists at least for 1 more year. If I had a choice between a Mustang, a Camaro, and a Challenger I would opt for a Challenger but probably with a V-6 since it has more than enough power for most and I don't need to be burning rubber. Challenger has the classic muscle car looks, more cabin room, and a decent size trunk which makes it very livable for day to day driving and for traveling. The base models of the Dodge Challenger has a 3.6-liter V6 engine that gives you 305 horsepower with 268 lb-ft torque. The car attains 60 mph from a standstill within just 6 seconds, which is quite fast. Even with their base engines, the Challenger and Camaro are lightning-fast. The Camaro reaches 165 mph, while the Challenger can go up to 11 mph faster!
  • Inside Looking Out I would avoid American cities if I can. European cities are created for humans and Americans for cars.