Iconic car maker Aston Martin is committing its future to the UK with a new factory in South Wales creating over 750 jobs.
The Gaydon-headquartered firm will build its new DBX model at the St Athan plant in the Vale of Glamorgan from 2020 following a worldwide search for a new manufacturing facility.
The plant will be Aston Martin's second factory and will create an estimated 1,000 jobs in the wider supply chain and local businesses.
Aston Martin's chief executive Andrew Palmer said: "During our 103-year history, Aston Martin has become famous for making beautiful hand-crafted cars in England.
"Through a detailed evaluation of over 20 potential global locations for this new manufacturing facility, we were consistently impressed with the focus on quality, cost and speed from the Welsh Government team.
"As a great British company, we look forward to St Athan joining Gaydon as our second centre of hand-crafted manufacturing excellence."
<?UMBRACO_MACRO macroAlias="MediumRectangle" >
Welsh first minister, Carwyn Jones, said: "I am delighted to officially welcome Aston Martin to Wales.
“We have been working closely with the company for almost two years in the face of fierce competition from other potential sites across the world.
"Our success today is testament to the reputation, dedication and skills of the Welsh workforce, all qualities that are synonymous with such a luxury, hand-crafted brand as Aston Martin.
"Today is the start of a long-term relationship between Wales and Aston Martin. We will work together in building on the strong foundations of our partnership to nurture a prosperous and rewarding future for this iconic company and its skilled workforce in Wales."
Economy minister Edwina Hart said the plant making the DBX would mean cars rolling off a production line in Wales for the first time in almost 50 years.
She said: "We already have more than 150 companies involved in the automotive supply chain, employing around 18,000 people and generating over £3bn to the Welsh economy, but this will be the first time in almost 50 years that we will be seeing vehicles roll off a production line in Wales."
The news has been welcomed by companies in Aston Martin's UK supply chain, including Oldbury-based Futura Group.
The group provides a range of bespoke design and styling services to Aston Martin. Paul Cadman, group managing director, said: “This is a firm show of intent by Aston Martin and a further commitment to producing next generation cars in the UK, which can only be good news for the supply chain.
"It makes sense for a brand – built on design flair and innovation – to be close to suppliers and strategic partners who share the same values and passion to create unique looking vehicles.
“This is second nature to Futura Group and we are already working with the company on exploring new opportunities on new model introductions.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement