Image: Autocar/Ben Summerell-Youde Image: Autocar/Ben Summerell-Youde

Sports car manufacturer TVR has announced plans to create 150 jobs at a new factory in South Wales, Wales' First Minister Carwyn Jones has announced.

The plant is expected to be located in an Enterprise Zone in Ebbw Vale, close to the proposed Circuit of Wales motorsport site.

It is understood that TVR was considering three other locations in the UK. Last month, Aston Martin also revealed plans to open a plant in South Wales, creating 750 jobs.

Following recent struggles, TVR says it now has a 10-year plan, which includes four new models. Production is expected to start next year.

First Minister Carywn Jones said: "This is yet another fantastic high profile investment for Wales and a great boost for our automotive sector.

"TVR is another iconic and much loved, world-class brand that still commands a strong and loyal international following. I am delighted the next generation of TVRs will proudly bear the label Made in Wales."

TVR chairman Les Edgar said: "This is a fantastic opportunity both for TVR and the Welsh Government.

"South Wales is becoming a major hub for automotive and motor sport technology and development and I am delighted TVR is investing here."