Ten years after it produced its last vehicle, TVR has announced that it plans to locate a new factory producing 2,000 cars a year and creating 150 jobs next to the planned track in the Ebbw Vale enterprise zone north of Cardiff. The long-planned circuit is said to be weeks away from sign-off, with speculation of private sector backing from the likes of the Aviva pension fund, reports The Times.
The idea is that Ebbw Vale and south Wales in general become the base of a new wing of the revived UK car industry. Aston Martin said last month that it would build a plant to make the new DBX at St Athan near Cardiff.
TVR is being revived by Les Edgar, a computer games tycoon who is investing part of his fortune alongside Gordon Murray, the former Formula One designer, and Cosworth, the high-performance engine maker.
Mr Edgar plans to pit TVR’s sports car against McLaren, Ferrari and Porsche, pricing it aggressively to take on the Aston Martin Vantage or Jaguar F-Type.
“South Wales is becoming a major hub for automotive and motor sport technology and development and the area is a serious opportunity for business development and job creation,” Mr Edgar said.
