Taxpayer-funded sports car factory in Wales still empty 12 months after renovation

TVR claims to have already occupied part of the factory, even as maintenance work continues. Photo: Jason Fong

A £12 million taxpayer funded by a sports car factory in Wales will still be making cars a year after the facelift.

It was hoped that British sports car brand TVR, which should move to plant in Wales will boost the local economy with plans for electric and V8 models of the forthcoming rear-wheel drive Griffith.

Some customers have paid a £5,000 deposit for the car, plans for which were first revealed in 2017, but the company has yet to formally sign the lease as renovations continue, The Telegraph understands.

Also known that the Welsh Government did not offer a lease to other tenants, despite the money invested in the site and that the factory was “ready to move in”.

The site was bought by the Welsh Government in 2021 for £5.7m and renovations were completed last year at a cost of around £6.2m. Around £7m has been made available by the authorities as part of the £100m Tech Valleys programme, which aims to attract jobs in the Blainau Gwent area north of Cardiff.

The exact amount that the taxpayer spent on the plant is unknown. According to a written response from the Minister for Economic Affairs, Transport and North Wales to the Welsh Parliament in March 2020, the refurbishment of the plant cost £6.2 million.

According to land registry documents, the £5.7 million cardboard plant sterling in January 2021, suggesting a total cost of £11.9m.

TVR insists it has already taken over part of the plant. TVR Chairman Les Edgar said: “We have already occupied part of the plant. Some repairs are needed after the Welsh Government renovation.

«Meanwhile, after a successful fundraising, we are together with our third-party engine] and the development of EV vehicles [electric vehicle], and this is in no way constrained by the above.»

A Welsh Government spokesman said: “TVR has identified a Welsh Government property in Ebbw Vale as the preferred location for its new car manufacturing facility in South Wales. We continue to work closely with the rental company, which we hope will be closed in the very near future.

“The refurbished property is move-in ready and represents a fantastic investment opportunity in the region. which boasts such strength in cutting-edge manufacturing.”

Neither Mr Edgar nor the Welsh Government answered questions about why the site was occupied if the lease had not yet been signed.

p>< p>Mr. Edgar, a video game entrepreneur, bought TVR in 2013 from Russian Nikolai Smolensky. In 2017, he introduced the Griffith, a five-litre, front-engined, manual-transmission, rear-wheel drive V8 developed in collaboration with Gordon Murray, best known for his work on the McLaren F1 hypercar capable of reaching speeds of up to 283 mph.

Since then, the company has been trying to get the Griffith off the ground. The coronavirus shutdown halted progress, but last year the company said it expected to launch the model in 2024.