Car production will begin again at the Browns Lane site in Coventry that was the home of Jaguar until 2005 under new plans revealed today.
British automotive specialists CPP Global Holdings Ltd has signed a deal to buy the site off Advantage West Midlands, and plans to consolidate all its existing facilities on the 23-acre site within five years.
CPP has five sites spread across Coventry, including one building the all-terrain supercar Bowler. It also provides specialist engineering and low-volume vehicle assembly services, including a joint venture with the Italian design studio that operates the Zagato brand.
CPP wants to centralise all these operations and lead what it describes as a ‘resurgent entrepreneurial sector in the West Midlands’. The Group will submit planning applications to Coventry City Council by the end of the year, and hopefully being the multi-million pound redevelopment in the spring of 2012.
This could even culminate in the famous Spyker supercar being built in Coventry. In February 2011, CPP signed a Memorandum of Understanding to acquire Spyker Cars from its holding company Swedish Automobile (which also owns Saab). This deal is suspended due to the ongoing issues surrounding Saab, but CPP ‘remains confident of concluding a deal to acquire Spyker Cars’.
Vladimir Antonov, co-owner of CPP and chairman of Convers Group, a Russian investment business, said: ‘The Browns Lane redevelopment demonstrates CPP’s commitment to remaining in the heart of Coventry where it has access to the city’s rich automotive skills base.
‘It will help CPP to create hundreds of new jobs, establish advanced new facilities and is a major investment into the economy of the city and the surrounding region.’
Brendan O’Toole, founder and co-owner of CPP, said: ‘This is a decisive moment in CPP’s strategy to cement Coventry’s reputation as a world-class centre of automotive excellence.
‘Bringing together the group’s various businesses and facilities within a single, purpose-built location is possibly the most exciting part of the entire plan.’
John Mutton, leader of Coventry City Council, said: “This is a massive boost for the city and the local economy… CPP has recognised that we have the skills and commitment needed for quality car production right here in the city, and I’m looking forward to them playing a big part in Coventry’s future economic success.’
