Dutch-based luxury sports car maker Spyker's decision to move its assembly plant to Coventry is being hailed as a testament to Britain's expertise in the automotive sector.
Business Secretary Lord Mandelson welcomed plans by Spyker Cars to shift base from Holland and begin production of its models in Coventry by the end of the year.
He said: "This is a tribute to the skills and expertise we have in the UK, in particular in the midlands, in the production of cutting-edge sports cars."
Spyker, which manufactures around 50 cars annually, said the relocation to its main parts supplier would help reduce costs while improving efficiency.
Chief executive Victor Muller said: "With approximately half of our vehicles' parts and components sourced in the UK, and virtually all key suppliers being located there, moving closer to our suppliers and engineering partners will result in substantial savings and tangible efficiency improvements."
The Society of Motor Manufacturers and Traders (SMMT) also welcomed the decision saying the UK had the necessary skills and expertise to support further development in specialist sports car production.
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