The comeback of niche British sports car marque TVR has been talked about for years, but things kicked into high gear when businessman Les Edgar and his team unveiled a modern Griffith in 2017.
Things appeared to be moving along nicely, with orders flowing in and the government of Wales providing a small investment to help support the conversion of a former building materials plant in Ebbw Vale into the new home of TVR production.
Fast forward to today and the company is still short of necessary funding to complete development and start production, according to Auto Express.
Some help came in January with the granting of a bridging loan worth 2 million British pounds (approximately $2.77 million) from a government coronavirus loan scheme. But the company has suffered some major setbacks, including the need to install a new roof for its plant, in addition to recladding of the building and extensive groundworks. Refurbishing of the plant is expected to start later this month, according to Auto Express.
TVR has said in the past it may raise funds by issuing bonds. The company has also said it has pre-orders for the Griffith worth 40 million British pounds.
The new Griffith promises to retain what made the TVR brand so appealing in the past—low weight, powerful engines, and minimal driver nannies. It will also be the first car to utilize Gordon Murray's iStream construction, where cars are constructed using minimal, pre-assembled parts. Power meanwhile will come from a Cosworth-tuned version of the 5.0-liter V-8 found in the Ford Mustang GT. The first version is to be a special launch edition priced from about 90,000 British pounds.
Should TVR get the Griffith into production, the company expects to build 1,500 to 2,000 cars per year. After this, TVR may launch hybrid and electric versions of the car, Auto Express has learned.