Taxpayer funded sports car factory still lying unused 12 months after construction
Sports car company TVR has plans to develop its signature Griffith car
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A £12million taxpayer funded sportscar factory is producing no cars a year after refurbishment.
The site was expected to be occupied by TVR, a British sports car brand, however the company is yet to formally sign the lease.
It was hoped that TVR’s new site in Ebbw Vale, Wales would boost the local economy by creating job opportunities.
Plans unveiled in 2017 detailed the sports car brand’s plans to produce electric and V8 engine powered models of its signature Griffith car.
Ebbw Vale is where the unused site is situated
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Some excited customers have paid £5,000 deposits for the car however not a single vehicle has yet to be manufactured there.
The empty site is “ready for occupancy”, but despite the Welsh government pouring money into the factory, the lease has not been offered to an alternative tenant.
The exact amount the taxpayer has spent on the unused factory has not been officially disclosed.
However, land registry documents show that the Welsh Government bought the factory in January 2021 for £5.7million.
The cost of renovations was disclosed to the Welsh government by the Minister for Economy, Transport and North Wales in March 2020.
In total, the disclosed figures suggest the total cost of the factory could be £11.9million.
TVR have said they have already occupied a part of the factory.
Chairman Les Edgar said: “We have already occupied part of the factory. Following the refurbishment some remedial work is required which is being addressed by the Welsh Government.
The original Griffith model
Wikimedia Commons
“In the meantime, following our successful fund raise, we are making progress with our third party partners on both ICE [internal combustion engine] and e.v. [electric vehicle] Car deveopment, and not being stopped in any way by the above.”
A spokesperson for the Welsh Government said: “TVR identified a Welsh Government-owned property in Ebbw Vale as its preferred location for its new car production facility in south Wales. We remain closely engaged with the company for the leasing of the space, which we hope will be concluded in the very near future.
“The refurbished property is ready for occupancy and represents a fantastic investment opportunity in a region that boasts such strength in advanced manufacturing.”
Edgar bought TVR from Russian Nikolay Smolensky in 2013.
TVR is hoping to get production off the ground for its new car, an updated Griffith model, in 2024.