The latest news is that the Welsh Government has bought a 3% stake in the sports car maker TVR for £500,000. The new owners also provided a £2 million loan to TVR to allow the production to get started in Ebbw Vale.
Although the supercar manufacturer has confirmed a year of research to go ahead before manufacturing which is due to begin in 2019.
The production property has already been purchased by the Welsh government last year. It’s been said that there are plans to invest £100m by ministers in an automotive business park in Ebbw Vale.
The TVR stopped production back in 2013 after the company was bought by new owners in 2013 in Blackpool. The Welsh government plans to create 150 jobs at TVR in Ebbw Vale. The focus will be on developing advanced skills for future generations, allowing local people to fill high-quality jobs while staying in their local areas.