British carmaker Longbow has announced plans to begin production of its hand-built electric sports car, the Speedster, in Warwickshire next year. The limited-edition model will be manufactured at Mira Tech Park in Nuneaton.
West Midlands mayor Richard Parker supported Longbow with £3m from a government fund. He stated that the Speedster project will be followed by the firm's Roadster model, which is expected to create more than 200 skilled jobs.
Daniel Davey, Longbow's co-chief executive officer, said the region was the best place to build the cars, citing the talent and know-how available. He added that the Speedster has a waiting list of prospective buyers globally, with the sports car priced at around £85,000.
The £3m funding for the project came from the government's £50m West Midlands Supplier Readiness and Transformation fund, which aims to accelerate the UK's transition to electric vehicle manufacturing. The West Midlands Combined Authority stated that Longbow plans to match-fund this investment and aims to manufacture over 10,000 cars a year.