TVR has been sold by Russian owner Nikolai Smolenski to British-based company TVR Automotive for an undisclosed sum.
The niche sports car brand’s website posted a holding page which said “never say never” last week and has now changed to confirm: “The distant rumble of rumour has turned to thunder and TVR is back in Britain!”
Les Edgar, who fronts TVR Automotive, told Top Gear that the company plans to build cars again and “won’t make mistake that have been made in the past” with the brand.
Smolenski bought TVR in 2004 for £15m and intended to move most of production to Turin with engine production still in the UK. He then split the company in two in December 2006 and no new cars were produced under his ownership despite an attempt to build a new Cerbera in Austria.
Edgar said more details could not be revealed due to non-disclosure agreements but there will be more details in due course.