Almost four years after the Griffith was first unveiled, TVR still needs more money to put it into production.
Earlier this year, the British company received a £2 million ($2.77 million) loan as part of the UK government’s Coronavirus Business Interruption Loan Scheme (CBILS). However, Auto Express reports that TVR has fallen well short of the £25 million ($34.6 million) that it had hoped to raise, money which it needs to complete development of the Griffith.
Read Also: TVR Plans To Start Griffith Deliveries In 2022 Following £2 Million Loan
The Griffith has been delayed due to a handful of issues that arose after its unveiling in September 2017 – and the pandemic was but one of them. In January 2018, the Welsh government purchased a 3 per cent stake in the automaker. This means it is considered a state-funded company under European Union regulations and was forced to take EU-wide bids for the renovation of its factory in Ebbw Vale, South Wales in a lengthy process.
Underpinning the Griffith is a carbon composite structure built using Gordon Murray’s iStream architecture and manufacturing process. The extensive use of carbon fiber means the car weighs just 1,300 kg (2,850 lbs). Power is set to come from a 5.0-liter naturally aspirated V8 with 500 hp, sending the car to 62 mph (100 km/h) in less than four seconds and through to a 200 mph (320 km/h) top speed.
Interestingly, TVR has now revealed to Auto Express that the Griffith has been designed to support both hybrid and all-electric powertrains in the future.
