Wales clinches yet another auto firm investment
British auto brand TVR has announced it will be building a new production plant in Ebbw Vale, where a £325m Circuit of Wales racing track and enterprise centre is currently under construction.
First Minister of Wales, Carwyn Jones, confirmed that TVR will settle in Wales as part of a new 10-year business plan. Mr Jones said: “This is yet another fantastic high profile investment for Wales and a great boost for our automotive sector.”
The announcement follows hot-on-the-heels of a similar announcement by luxury auto marque Aston Martin, which is to build its new models in the Vale of Glamorgan after agreeing a deal with the Welsh government.
Wales is quickly becoming a hub of auto manufacturing excellence, with Ford and Toyota just two of the other large auto brands currently manufacturing in the small country.
TVR was bought by Les Edgar as part of a syndicate in 2013 after the company went into administration while in the hands of Russian businessman Nikolai Smolensky. It was founded in 1947 in Blackpool by mechanic Trevor Wilkinson, who used his first name to create the brand’s identity.
Les Edgar, chairman at TVR, commented: “South Wales is becoming a major hub for automotive and motor sport technology and development and I am delighted TVR is investing here.”
TVR will create 150 new jobs at its Welsh production plant and will introduce 4 new models as part of its 10-year plan. The auto firm’s longterm goal is to be producing 2,000 vehicles per year by 2022.
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