TVR has lost the rights to a new Welsh factory in Ebbw Vale where its long-delayed Griffith sports car was planned to enter production.
Six years after revealing the V8-engined Griffith, TVR is still without a production line to build the car, following the Welsh government's decision to put the site back on the open market, according to the South Wales Argus.
Councillors in Blaenau Gwent County, where the Ebbw Vale site is located, have reportedly been told by the Welsh government that TVR's exclusive rights to the facility have lapsed, and it will now be offered to other parties.
The Argus quotes corporate director for regeneration and community services Ellie Fry as saying: “We’ve had a number of enquiries over the past six months for a building of that size – we will be definitely looking at all those enquires.
“It’s a popular size as there are few buildings like this available in South East Wales.”
Despite having no factory site earmarked, TVR has also outlined plans to launch an electric version of the coupé, plus an electric saloon and SUV at some point in the future, both based on a skateboard platform supplied by an unnamed, but "highly established" and "world-leading" partner firm.
The product plan was revealed last year following investment from lithium firm Ensorcia Automotive, and forms part of a strategy to make TVR a global luxury marque.
The brand has now said it "continues to discuss various locations for car production with the Welsh government, as we have done for several years," suggesting it still plans to produce cars in the country. The Welsh government has a 3% stake in TVR, following an investment in 2016; TVR was loaned £2 million as part of that deal, which has since been repaid.
TVR said that it chose the Ebbw Vale site when the Welsh government had plans to build a race circuit next door - the ill-fated Circuit of Wales project. "When that project did not proceed," it said, "there remained a need for TVR to have a customer facility close to a motorsport venue"
TVR CEO Jim Berriman suggested to Autocar last year that the Welsh site was not critical to the company's plans: "The key to our assembly process is that it can be set up very quickly, but all our decisions have to be taken with the longer-term plans for the firm in mind.
"The UK will always be the centre of this brand, but we expect to be agile enough to look at production in other locations as we seek to expand our plans globally.”
In a new development, the firm has confirmed a new operational base at the Thruxton race circuit in Hampshire.
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Jim Berriman would make a great used car salesman. Or even better, a realestate agent.
It's been proved, you can't rely on using an old outdated brand name and make it great again, as was mentioned they weren't that great or well built, the lingering aroma of glue, going for volume rather than maybe starting with limited run car, yes, somebody made mistakes.
Dear Welsh Government. I've drawn a picture of a car on my phone using AI. I'm going to make it with unnamed parts but in Wales. Please give me £5million. Welsh Government: Here you go, sounds fine. Meanwhile the Welsh tax payers lose out again to incompetence
Incompetence on who's part?
Admittedly it's all very strange however the story does say that the loan has since been repaid so I'm not sure how the Welsh taxpayers have lost out.
The loan was indeed repaid (no mention of interest lost) but the Welsh government invested £500,000 for their 3% stake (now worth a lot less!) and also spent millions on the factory which may never now be used