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The 962CR is based on the dominant Le Mans-winning Porsche 962 race car which Schuppan raced and owned with his own team. The carbon monocoques were built entirely by Reynard Motorsport and the body by Schuppan, although it featured design elements from the 962 race car. Final assembly took place at the 60,000 ft² Vern Schuppan Ltd production facility in High Wycombe, Buckinghamshire, England. Funding was provided by Japanese investors who supported Schuppan's race team that competed in the All Japan Sports Prototype Championship. Failure of payment from Japan for two cars, coupled with the high cost of the car's construction and a worldwide economic recession, forced Schuppan to declare bankruptcy, folding his car company.