An electric car company from Sweden is promising more than 150 new jobs for the region as it sets up a new manufacturing base in Northamptonshire.
Uniti is hoping to invest hundreds of millions at a new base in Silverstone to produce the Uniti One car.
It's hoped the plant will be up and running by 2020.
The company says it's picked the UK because of its industrial strategy to be a world leader in creating electric and driverless cars.
The Silverstone plant is the first of several planned initiatives for Uniti in the UK.
The Swedish car maker has already engaged a team of engineers at an R&D centre in Northamptonshire while fostering partnerships with local companies such as KW Special Projects (light weight structure and additive manufacturing), Danecca (EV powertrain), and Unipart (global supply chain).
MEPC’s Roz Bird, Commercial Director at Silverstone Park and also STC Chair, added: “This is fantastic news for Silverstone Park and the Silverstone Technology Cluster – a global destination for engineering, innovation and business development.
“Uniti’s vision for a vehicle production plant at Silverstone Park is very exciting for skills, jobs and the local economy as well as the region’s supply chain.”
Uniti plans to unveil its production models in late 2019 and deliver vehicles to pre-order customers throughout northern Europe shortly thereafter.