TVR on Monday said it formed a deal with a lithium producer by the name of Ensorcia Metals, to help generate funding for production of the current V-8-powered Griffith sports car as well as establish a joint venture in the electric-vehicle space.

The revived British sports car marque was vague in its latest statement but said work on alternative powertrains has already commenced. Lithium is a key material used in EV batteries, though it isn't clear in what capacity, if any, TVR will have when it comes to batteries, other than using them in a future electric model.

Before you start imagining an electric TVR, we'll remind you that it has been four years since the company showed off a concept for the V-8-powered Griffith. The project has been plagued by multiple factors, and the last we heard the company was making slow progress on setting up a plant in Wales.

TVR hasn't provided a firm date for the start of production, though the latest reports point to a date in 2023.

The 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 of the Griffith is expected to be a special launch edition priced from about 90,000 British pounds (approximately $120,935).