A new 'motorcity' is set to be created in the West Midlands, giving a boost to the region's beleaguered car industry.
Up to 30 companies specialising in niche vehicles would be housed on the site, which could ultimately create up to 2,000 jobs in the region.
Advantage West Midlands is currently in negotiations with developers and landowners to set up the industrial park, which will open within the next two years.
It is hoped the site will be able to take on some of the people who will lose their job when Peugeot closes its Ryton plant next year.
David Malpass, senior operations manager at the automotive support initiative Accelerate, said the motorcity could be a massive boost for niche vehicle production in the Midlands.
He said: "We have got a pretty well-developed network of companies making niche cars here, there is scope for them to expand and also for a great deal more to set up.
"People are looking for more customisation on their cars, so there is definitely a market out there, while there are already a lot of highly-skilled companies in the area.
"We are looking at trying to get these companies to share a manufacturing site so they can overcome some of the supply and marketing problems they have had in the past.
"This will be an opportunity for them all to work together. They may not be in competition with each other, with some producing sports cars while others focused on more specialised vehicles."
Many of the companies are already pooling their resources in an organisation called the niche vehicle network, which includes firms such as Connaught and GTM.
Up to 10,000 are thought to work in companies including Zolfe, GTM, Connaught, Virago, Caterham and Marcos Engineering, as well as specialist manufacturers such as JCB and Whale Tankers.
Marketing was a vital area which could improve the fortunes of the niche car producers, said Mr Mal-pass, which typically produce hundreds of vehicles every years.
"A shared showroom and marketing centre at the site would be a massive help for these companies and help improve their sales.
"Mercedes sells a third of its cars direct from its factory in Stuttgart, so that shows what the potential is."
He added: "There is the potential for some of the skills to migrate from larger companies to smaller ones or people who have left the big companies to start new companies.
"We have to nurture these firms as much as possible. There is a gap between Bentley, which is doing very well selling 10,000 of its Continental GTs at more than #100,000, and BMW.
"There has got to be a middle ground between them.
"Nobody in Europe is doing this sort of thing. We have got the test facilities here like MIRA, as well as the high-tech firms who can help them."
David Keene, managing director of niche car maker GTM, said: "This centre would be really good. It would be more like a cluster and give the niche vehicles firms more of an identity.
"It will be less greasy nuts and bolts and give it a real image, more of a science park. We would be able to invite other companies over to do projects for them as well as share ideas and technology."