£5.8m backing for Aston Martin

ASTON Martin is getting £5.8m in financial backing from the Welsh Government, as part of the deal to bring the car maker to South Wales.

The scale of the support – which comes with conditions attached – was revealed yesterday, following a freedom of information (FOI) request.

It comes after the firm announced last year that it would build its new DBX crossover cars at St Athan, in the Vale of Glamorgan.

The first cars are due to roll off the production line in 2019, in a move that will employ 750 highly-skilled workers.

The FOI request to find out the level of financial support being provided by the Welsh Government was lodged by businessman Tom Gallard.

He submitted the request when ministers initially refused to make the figure public.

The Information Commissioner ordered the details to be released.

The FOI response said: “Aston Martin Lagonda Ltd was offered £5.8m Repayable Business Finance.

“This offer was conditional on receiving a detailed development plan for the Welsh project, evidence of cost comparison with the US, full financial due diligence of the Welsh proposal and entering into a contract for lease for the Superhanger [at the St Athan site].”

The Welsh Government saw off competition from locations includes those in North America, the Middle East, and closer to home in Coventry, to win the lucrative investment project.

As well as creating hundreds of high-skilled jobs the investment, which will run into hundreds of millions of pounds, will support a further 1,000 jobs in the supply chain and within local businesses.

Earlier this week Andrew Palmer, Aston Martin’s chief executive, wrote to First Minister Carwyn Jones to express his support for the Circuit of Wales.

In the letter, Mr Palmer writes that he wants to add his “full support for this project as another valuable tool to Wales”.

He adds that he can see Aston Martin drive economic growth in using the circuit for “customer driving days, owners club meetings” and vehicle evaluation and testing.