Car maker TVR has admitted its frustration over a delay in moving into its new Welsh factory.
The 200,000 sq ft site in Ebbw Vale, Blaenau Gwent, is part of the Welsh Government's plans to create 1,500 technology jobs in the area by 2027.
TVR would lease the old Techboard unit from the Welsh Government but ministers have not yet announced the contractor to refurbish the building.
That is due to happen "shortly" but TVR will not get in until next summer.
TVR chief executive Les Edgar said delays in being handed the keys to the site had a knock-on effect on the business.
Asked if it was a frustration, he told Welsh language news programme Newyddion 9: "Yes a little bit. But you don't know what you don't know. It is not simple getting these ducks in a row.
"It has delayed things, it isn't disastrous by any means.
"It has had an impact on the start of production, for sure. I wouldn't like to put a figure on that but we are definitely behind."
The Welsh Government has taken a 3% stake in the company and given TVR a £2m loan which is repayable if the company does not move to Wales.
TVR will employ 180 people and has already taken deposits on 500 new cars which cost £90,000.
'Terrible track record'
Welsh Conservative leader Paul Davies said the Welsh Government needed to give guarantees that public money had been invested appropriately.
He said: "It is important now that the money the Welsh Government has invested in the company will lead to the jobs that were invested in in the first place.
"They have got a terrible track record when it comes to investing public money. We have seen that with Pinewood and the Circuit of Wales."
A Welsh Government spokesman said: "We are continuing to work closely with the company and support them whilst they work to raise the private sector finance needed to commence production.
"In the meantime the Welsh Government is completing a tender for the construction works at the building in Ebbw Vale and we expect to appoint a contractor shortly."