Luxury British car brand comes to Wales
British sports car maker TVR is to produce the latest model of its iconic brand of high performance cars from a new manufacturing facility in Ebbw Vale Enterprise Zone.
TVR is the second iconic luxury British carmaker to make a major inward investment into Wales within four weeks. Aston Martin last month unveiled a second manufacturing base at St Athan, Vale of Glamorgan.
The TVR investment, which is receiving Welsh Government support, is set to create 150 quality jobs in the Heads of the Valleys.
First Minister Carwyn Jones 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.
"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. 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."
Economy Minister Edwina Hart described it as another landmark investment for the automotive sector in Wales.
The Minister said: "Attracting another iconic automotive brand to Wales is great news for Wales, for Ebbw Vale Enterprise Zone and for our automotive sector. We already have a thriving automotive component sector in Wales and now we will have two car production facilities. This investment speaks volumes about the high level skills we have in advanced manufacturing and I am delighted the company is to create a significant number of new jobs in Blaenau Gwent.
"TVR is a very welcome addition to the thriving, dynamic sector in Wales where there are more than 150 companies involved in the automotive supply chain, employing around 18,000 people and generating over £3billion to the Welsh economy."
TVR Chairman Les Edgar 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 I am delighted TVR is investing here.
"We have a sports car project that has attracted global approval and excitement, and we are delighted that the Welsh Government wishes to become a part of an exciting new era for TVR.
"The Welsh factory will be busy fulfilling orders that already run through to the end of 2018, and with our ambitious plans for the future we believe that Wales provides the right environment to make the project a success."
The new TVR project, which was announced early 2015, has already secured in excess of 350 deposits for its niche new sports car, which features an innovative, ground-effect chassis, created by Formula One designer Gordon Murray, and which will be manufactured using his revolutionary iStream® assembly process.
Secretary of State for Wales Alun Cairns said: "Today's news is yet another strong endorsement of the quality of Britain's car industry, which has been creating jobs, taking on apprentices and contributing to building a stronger economy. This is a tangible benefit of a stable and growing economy.
"Following the recent investment from Aston Martin, the Welsh automotive manufacturing sector is clearly surging from strength to strength.
"TVR's investment in Ebbw Vale shows the confidence the company has in the skills-base and the business environment in Wales, and is further proof that this country is very much open for business."