The site where TVR plans to manufacture its new car has been acquired.
The 200,000 sq ft factory in Ebbw Vale, Blaenau Gwent, is a cornerstone of the Welsh Government's plans to create 1,500 jobs in technology in the area by 2027.
It would be housed in the former Techboard building and leased from the Welsh Government after a refurbishment.
TVR said it was "more than ample to take care of our current and planned requirements as we expand".
Economy Secretary Ken Skates said: "We have allocated £100m to Tech Valleys over the next 10 years with the aim of creating 1,500 jobs.
"I expect projects at Tech Valleys to include innovative areas such as the development and testing of battery and motor technology, 5G activity and the infrastructure needed for automated and ultra low emission vehicles, and to include a mix of short, medium and long term activities and targets."