What's all this about?
Seems like Wales is becoming the new car manufacturing capital of the UK. Following on from Aston Martin's recent announcement that its crossover model would be built in the principality, now resurgent sports car maker TVR is moving into Cymru.
TVR? It's coming back, is it?
Yes, with a new production facility in the Ebbw Vale Enterprise Zone (EVEZ) in South Wales. The Welsh Government has also pledged £30 million of capital expenditure in TVR over the next five years.
What does TVR have to say about this?
Les Edgar, the chairman of the resurrected firm, said: "This is 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. We have a sports car project that has garnered global approval and excitement, and we are delighted that the Welsh Government wishes to become a part of an exciting new era for TVR."
Why is Wales so keen to back an untested venture?
Rt. Hon Carwyn Jones, First Minister of Wales, said: "This is 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'. This 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."
So what is TVR's future looking like now?
With the comeback announced in early 2015, TVR says it has already secured 'in excess' of 350 deposits for the new launch edition model, designed by none other than Gordon Murray - the man behind the McLaren F1. It will be Gordon Murray Design Ltd's first production car made using the iStream assembly process and will be powered by a Cosworth-tuned V8 engine. The factory in EVEZ will be fulfilling orders that run through to the end of 2018.
Matt Robinson - 23 Mar 2016