A niche car manufacturer named after the Latin word for feisty and heroic warrior woman could create 200 jobs in the Midlands when it is launched next year.
Virago Cars hopes to start production of its 150mph two seater coupe "somewhere in the Midlands" late in 2006.
The company is the brainchild of former Land Rover executive Andrew Nowson, who hopes to raise £3.6 million to turn his dream into reality.
The 51-year-old plans to build up to 700 cars a year for the high-tech/race bred sports car at prices of just under £50,000.
Solihull, Birmingham and Coventry are the areas currently being considered for the new manufacturing facility, said Mr Nowson, although the exact location would depend on what support was offered by local authorities.
He said: "We decided to call it the Virago from the Grecoroman word for Amazonian warrior women.
"It is a car which looks stunning and it was something which needed to be done.
"There has been much talk about the demise of the British automotive industry, but we think we can make money with this."
Mr Nowson said the car would be aimed at people who normally bought TVR and Noble cars, but also wanted comfort as well as performance.
"Those cars are more like rocketships on wheels, where people want to thrash them around on tracks. What we are planning is something a bit more luxurious and enjoyable.
"We want to build something that people will make people smile when they go to the carpark and have a grin after they've driven it."
It will compete with Porsche, Mercedes, Noble and TVR and be powered by a 3 litre Duratec V6 engine.
Its performance figures suggest a top speed in excess of 150mph and an acceleration time to 60mph in under 5.5 seconds.
Mr Nowson's business experience includes turning round an international division of a software company, taking it to substantial profits and a £9 million turnover.
While at Land Rover he was former fleet vehicle product planner responsible for 50 contracts valued at £40 million, before becoming a manufacturing consultant.
He has been working on the project in detail for more than a year.
He said: "I am seeking finance to establish a low cost assembly facility with manufacturing starting during the fourth quarter of 2006.
"Creating and building this company is a great opportunity and a dream job, but I have spent enough time in business to be hard headed about it."
Mr Nowson has assembled a team of engineers with experience as diverse as Indy Car racing in the US and Formula One in the UK for the project.
Inquiries have already been received for the Virago from Malaysia, Asia and Australia, as well as Europe.
Mr Nowson is recruiting sixteen dealers in the UK to sell and service the car.
Among the funding avenues being pursued by Virago were Advantage Business Angels, banks and individuals.
The company was also looking at the possibility of a float on Ofex to raise the money to start production.