Ratcliffe, who has been a staunch supporter of Britain's withdrawl from the European Union, annoucned on Tuesday that the Grenadier vehicle will be constructed at a former Smart car factory in Hambach in North Eastern France, and not in the Welsh town of Bridgend.
The move puts an end to post-Brexit hopes of a revival of the automobile manufacturing industry in South Wales.
Ratcliffe's ardent support for Brexit raised a few eye-brows in 2019 when he announced that he was moving to Monaco, the renowned tax-haven principality on the Côte d'Azur, effectively avoiding UK taxes.
Billionaire #Brexit backer Sir Jim Radcliffe will build his 4x4 car in France rather than in Bridgend as it's "well located for access to markets & suppliers". This is exactly what we said leaving the SM would do & exactly what Leave called PROJECT FEAR.https://t.co/dZ4M0Xl7T8
— philip #FBPE #RejoinEU (@philiparrogers) December 8, 2020
Mercedes-Benz parent copmany, Daimler also announced the sale of its Smart car factory to Ineos on Tuesday, that will retain and secure some 1,300 jobs at the Hambach site under the deal.
According to Ratcliffe, "[We] simply could not ignore the unique opportunity offered by Hambach, namely the purchase of a modern automotive production plant with an exceptional workforce."
The German auto giant Daimler had caused surprise and upset earlier this year, when it announced was putting the factory up for sale to try cut costs in the face of losses caused by the Covid-19 pandemic.
Under the deal with Ineos, however, Daimler's head of research, Markus Schaefer, said "We have found a sustainable solution for Hambach which offers the site a clear future perspective."
(France Bleu): "#Daimler doit se montrer à la hauteur" : la ministre Pannier-Runacher en visite à l'usine #Smart à Hambach : En se déplaçant ce jeudi à l'usine Smart à Hambach, la ministre Agnès Pannier-Runacher voulait rassurer.. https://t.co/5R57KY4qRd pic.twitter.com/0WZmJ6qwwF
— Titrespresse.com (@titrespresse) July 31, 2020
Daimler will continue the production of an electric-drive Smart car, as well as part of a new electric Mercedes SUV at the site until 2024.
The carmaker's departure from Hambach marks the end of an era that began with great fanfare in 1997, when then German chancellor Helmut Kohl and French president Jacques Chirac inaugurated a plant to produce the iconic Smart - a mini two-seater city car.
