The reborn TVR brand has confirmed it is building a brand new car plant in the Ebbw Vale Enterprise Zone in South Wales as part of a five-year, £30 million investment plan.
Both TVR’s backers and the Welsh Government will invest in the new manufacturing facility, the location of which will be confirmed in the next few weeks.
In deciding to choose Wales, TVR chairman Lee Edgar said it was a “fantastic opportunity both for TVR and the Welsh Government.
“South Wales is becoming a major hub for automotive and motorsport technology and development and the area is a serious opportunity for business development and job creation.”
The decision will be officially announced this morning by the First Minister of Wales, the Rt. Hon Carwyn Jones, after the contract was signed on 18 March. He said it was “yet another fantastic high profile investment for Wales and a great boost for our automotive sector.
“TVR is another iconic and much loved, world-class brand that still commands a strong and loyal international following. I am delighted the next generation of TVRs will proudly bear the label Made in Wales.”
The TVR news follows Aston Martin’s decision to locate its new crossover SUV factory at St. Athan in South Wales, 15 miles west of Cardiff.
The first Minister said it “sends out a strong, clear message that Wales is the location of choice for advanced manufacturing.
“It also illustrates that our pro-business approach is delivering results, attracting significant investment and creating high quality jobs and it is another huge boost for Wales, for our automotive sector and for our skilled workforce.”
The new TVR project was announced in early 2015 and more than 350 orders have since been taken: demand is so high (the order book is full to the end of 2018), the firm had to open its waiting list for the new car ahead of time, despite buyers having to place £5,000 deposits to secure a place.
The chassis and body is being designed by Gordon Murray and it will be the first production car to use his new iStream assembly process. Power will be ample: Cosworth is tuning a V8 engine specifically for TVR.
What will it be called? That’s still to be confirmed; currently, it has the codename T37.