TVR to be built at Circuit of Wales 22 | 03 | 2016
TVR, THE RESURGENT sports car maker, has signed a deal with the Welsh government which will see it open a new production plant next to the new Circuit of Wales, which is nearing completion at Ebbw Vale, Blaenau Gwent, 25 miles north of Newport.
Formerly based in Blackpool, TVR was bought from Russian ownership in 2013 and is being brought back to life by a consortium of wealthy enthusiasts led by computer games magnate Les Edgar.
The company plans to establish a new range of cars, very much in the mould of those that went out of production in Blackpool in 2006.
Announced in early 2015, the new TVR project has already secured more than 350 deposits for the new launch edition car, which features design and styling that maintains the distinctive TVR DNA, but also includes F1 inspired, ground-effect technology.
The chassis and body has been designed by Gordon Murray of Gordon Murray Design, and power is provided by a Cosworth tuned and enhanced V8 engine.
Related: TVR sold to UK company
Today it was confirmed Welsh Government will also invest in the car maker, further enhancing the new manufacturing project which represents over £30 million of capital expenditure over the next five years. The deal was officially announced by Rt. Hon Carwyn Jones, the First Minister of Wales, this morning.
Today's new was naturally welcomed by TVR chairman, Les Edgar.
“This is a fantastic opportunity both for TVR and the Welsh Government," he said. "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 wish to become a part of an exciting new era for TVR.”
In another boost for Wales, it's believed the Circuit of Wales — will have an associated technology park housing TVR and a number of other suppliers — is understood to be on the point of signing a £300 million deal with the Aviva insurance group for financial backing.
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Jim McGill