Reborn British sports car-maker TVR is to follow Aston Martin, building a factory in Wales.
TVR, the British brand famous for producing fragile but ferociously fast sports cars, will build its new generation of models in South Wales, creating 150 jobs.
The choice of location was made after the Welsh Gov t agreed to provide financial backing, and comes just weeks after Aston Martin announced plans to build a factory of its own in the principality.
The first new TVR in more than a decade is due to go on sale in 2017, and will be a front-engined, rear-wheel-drive two-seater with a traditional manual gearbox.
TVR is also promising Formula One-inspired ground-effect technology to help stick the car to the road through corners, while power will come from a naturally aspirated V8 that’s being engineered by motorsport specialists Cosworth.
Businessman Les Edgar now owns TVR, and is developing the car in collaboration with Gordon Murray — most famous for his work on McLaren’s 243mph F1 hypercar.
Edgar said: “We have a sports car project that has garnered global approval and excitement, and we are delighted that the Welsh Gov t wishes to become part of an exciting new era for TVR.”
The Rt. Hon Carwyn Jones, First Minister of Wales, added: “This is yet another fantastic high-profile investment for Wales and a great boost for our automotive sector.
“Today’s news follows hot on the heels of the Aston Martin announcement and sends out a strong, clear message that Wales is the location of choice for advanced manufacturing.”
Edgar has previously said that the new car’s price will be “consistent with TVR’s past market positioning”, which suggests a starting point of about £50,000 ($105,000).
TVR has already secured in excess of 350 deposits, and plans to introduce at least four new models in the next decade.