Dragster cashes in with funding package
A dragster vehicle created by two Wolverhampton businesses is set to become the world’s fastest Vauxhall after its developers secured a financial package through NatWest business and commercial banking. Street-legal dragster Red Victor 3 has received an undisclosed investment.
The car is being created by Wolverhampton businesses Andy Frost Transmissions and Penn Autos, which are based in Springhill Lane, Penn.
As an off-shoot of the automatic transmission business, managing director Andy Frost said he has ambition to build “the fastest street legal car in the world”.
Frost has obtained sponsorship through Vauxhall's VXR brand, REP Air Services, Scattergood and Johnson, Nimbus Motorsports, Cam Auto Developments and Webster Race Engineering. However, to run the car he needed a short term financial package to start the project from NatWest Business and Commercial Banking in Wolverhampton.
Simon Caunt, relationship manager for NatWest Business and Commercial Banking in Wolverhampton, said: “I have a long standing and very good banking relationship with the management teams at Andy Frost Transmissions and Penn Autos and know what great mechanics and businessmen they are.
"When Andy told me about his plans for Red Victor 3, I was delighted to pull together a short term financial package to ensure the car can take shape as quickly as possible."
