You cannot build this car anywhere else in the world

Longbow's co-founders and CEOs Daniel Davey (left) and Mark Tapscott show Business Secretary Jonathan Reynolds (left in car) and mayor Richard Parker the Speedster

A British carmaker has unveiled plans to start production of its hand-built electric sports car in Warwickshire.

Longbow is to start production of its limited-edition Speedster at Mira Tech Park in Nuneaton next year.

West Midlands mayor Richard Parker, who backed Longbow with £3m from a government fund, said the project will be followed by the firm's Roadster model, creating more than 200 skilled jobs.

Daniel Davey, Longbow's co-chief executive officer, said the region was the best place to build the cars. 'It's not just the supply chain; you've got the talent here and the know-how,' he said.

Davey said: 'You cannot build this car anywhere else in the world. And if you did, you would be importing UK components to it.

'So you can get heavy components elsewhere, and you can get high-volume components elsewhere; what we're looking for is low-volume, high-quality, low-cost, low-weight.

The Speedster has a waiting list of prospective buyers from across the world, waiting to spend around £85,000 on the sports car.

At the test track at Mira, the all-British creation silently demonstrated how a lightweight sports car can go from an idea to a vehicle in less than two years, helped by regional expertise.

Longbow said the UK was good at building lightweight sports cars. 'Our designers are just up the road in Leamington Spa, engineers from across the West Midlands and further afield,' Davey added.

People around the world are waiting to buy the limited edition car for around £85,000

The project was backed by £3m from the government's £50m West Midlands Supplier Readiness and Transformation fund, external, which aims to accelerate the UK's transition to electric vehicle (EV) manufacturing.

Business Secretary Jonathan Reynolds said the £3m was to strengthen the supply chain and the industry.

West Midlands Combined Authority said the money would be match-funded by Longbow, which plans to manufacture more than 10,000 cars a year.

Parker said: 'We've been building cars here in West Midlands for 130 years, so what better location for a new generation of carmakers like Longbow.

'They know this industry inside out and are investing here because this is quite simply the best place in the UK to build a car.

Car industry expert Professor David Bailey said: 'They're trying to do what Tesla first did many