In 2014, Caparo announced plans to develop an even lighter and more powerful version of the T1. Dubbed T1 Evolution, It was supposed to receive an updated chassis and drivetrain, and a 700-horsepower engine. As enticing as that may sound, the T1 Evolution might not see the light of day as the company is on the verge of bankruptcy and its chairman committed suicide.
According to The Guardian, Caparo’s chief executive Angad Paul, has died after falling from his penthouse flat in London last week. The 45-year-old businessman was pronounced dead at the scene. His death comes as Caparo, a steel company that also owns Caparo Vehicle Technologies, has filed for bankruptcy and laid off hundreds of employees.
It’s believed that Caparo’s current difficulties and uncertain future pushed Angad to commit suicide.
Caparo was founded by Lord Swraj Paul, Angad’s father, in 1968. Angad Paul took over in 1996. Caparo Vehicle Technologies was established in 2006, when Caparo acquired Freestream, a British company that provided advanced technology development, materials engineering, and design services to automotive, motorsport and aerospace markets. Freestream was originally founded by Graham Halstead and Ben Scott-Geddes — two engineers that worked on the McLaren F1 project.
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