Sportscar maker Spyker is to move production of its cars from Holland to Coventry.
Boost for troubled local economy
Spyker says the move makes sense because many components for its cars already come from the UK. Production will be taken over by CPP Manufacturing in Whitley, one of Spyker's biggest suppliers.
The news is a welcome boost for the Coventry area it has been hit by the closure of Peugeot's Ryton factory and Jaguar's Browns Lane plant in recent years.
Spyker has been producing its uniquely styled sportscars since 2000, many of which feature details such as quilted interiors.
Its current line-up is powered by Audi-sourced 4.2-litre V8 engines and the company currently produces between 40-50 cars a year, most of which are sold in America.
Victor Muller, Spyker's chief executive, said 'With approximately half of our vehicles' parts and components sourced in the UK and virtually all our key suppliers located there, moving will result in substantial savings and tangible efficiency improvements.'
Spyker plans to keep the rest of its operations in the Netherlands. About 45 of its current workforce of 135 will lose their jobs when production moves to the UK, but Spyker is planning to offer workers the chance to relocate.