The Welsh government invested £14 million of taxpayers’ funds into a failed bid to tempt TVR to produce its new Griffith sports cars in the country – before the firm eventually relocated to Hampshire.
According to a letter written by Adrian Crompton, auditor general for Wales, the government spent £4.75m buying the Ebbw Vale factory and a further £7.6m on its refurbishment. It also lent TVR £2m and invested £500,000 in equity shares in 2016.
