Revived British sports car marque TVR will follow in the footsteps of Aston Martin by setting up a new plant in Wales.
It was only a month ago that Aston Martin confirmed plans to build a plant in Wales for its upcoming SUV. Now TVR has confirmed similar plans.
TVR’s plant will be used for new sports cars and is expected to be operational by 2018. The plant will be located in Ebbw Vale, roughly 40 miles to the north of St Athan, the proposed site of Aston Martin’s new plant.
Both sites are in the south of Wales, which is emerging as a hub for the auto industry. Existing infrastructure, plus incentives from the government, made the decision to move to Wales more attractive than remaining in TVR’s traditional home of Blackpool, England. For example, the plant will be located next to a new race track, the Circuit of Wales, currently under construction.
“This is a fantastic opportunity both for TVR and the Welsh government,” said Les Edgar, TVR Chairman. “South Wales is becoming a major hub for automotive and motorsport technology and development and I am delighted TVR is investing here.”
The first of TVR’s new sports cars is due in 2017. It will be built at a temporary facility and feature iStream construction devised by legendary Formula One race car design Gordon Murray. It will be a front-engined, rear-wheel-drive coupe similar to what you see in the teaser sketch above. Power will come from a Cosworth-enhanced version of the 5.0-liter V-8 found in the Ford Motor Company [NYSE:F] Mustang GT.
TVR predicts its new plant will initially require around 150 staff. The company says it has enough reservations for its new sports car to keep it busy at least until the end of 2018. In the longer term, the company plans three other models and is hopeful of producing around 2,000 cars per year by 2022.