Currently, the group delivers services including vehicle component manufacturing, body-in-white engineering, prototype vehicle production, and low-volume vehicle assembly, from five sites spread across the city.
Planning applications will be submitted before the end of 2011, with the multi-million pound redevelopment project anticipated to start in the second quarter of 2012. Full details of the automotive group’s proposals will be announced when planning approvals are finalised.
“This is a decisive moment in CPP’s strategy to cement Coventry’s reputation as a centre of automotive excellence,” said CPP founder and co-owner Brendan O’Toole. “In conjunction with my business partner, Vladimir Antonov, we’ve successfully and significantly grown CPP over the last few years, with further expansion planned.
“And as our success and growth continues – facilitated by our move to Browns Lane – this will also benefit our wide supply base, the majority of which is in and around Coventry.”
In January 2011, CPP acquired Bowler, the manufacturer of all-terrain supercars and a month later signed a memorandum of understanding to acquire Spyker Cars from its holding company. That memorandum of understanding has now lapsed although it CPP says it is still confident of buying Spyker.
“This is a massive boost for the city and the local economy – creating new jobs for Coventry people is a key priority for the Council and I’m delighted we’ve been able to play a part in bringing car production back to Browns Lane,” said Coventry City Council leader John Mutton.
“CPP has recognised 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.”
In July 2011, CPP confirmed it was operating a joint venture with the Italian design studio that operates the Zagato brand under licence from the Zagato family.