Aston Martin has announced it will open a new facility in south Wales to develop its next-generation of sports cars.
Production will primarily be focussed at its headquarters in Gaydon, Warwickshire, and it is expected to create more than 1,000 highly skilled jobs.
It is anticipated a further 3,000 jobs will likely be created as a direct result of these investments across the supply chain.
Aston Martin’s chief executive, Andrew Palmer, said: “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.”
The plans have already received significant backing from prime minister David Cameron, who said the intention to invest on the United Kingdom’s shores will be a substantial boost for the economy.
Manufacturing will commence in the autumn at Gaydon of the new DB11, replacing the iconic DB9, and it is the first car to be launched under the company’s second century plan.
In the next five years, Aston Martin has said it will replace and expand its entire sports car portfolio which will start with the DB11.
The facility has a planned volume of manufacturing more than 7,000 sports car per year by 2020.