A Dutch-based luxury sports car-maker is to switch its assembly plant from Holland to Britain to reduce its cost base.
The relocation by Spyker Cars, which was welcomed by the Society of Motor Manufacturers and Traders (SMMT), will see its models being produced in Whitley, Coventry, by the end of the year.
Spyker, which makes around 50 cars annually, said the move would achieve considerable improvements in efficiency and substantial cost-reductions by moving assembly to the site of its main parts supplier.
Victor Muller, the firm's chief executive, said: "In these challenging times, a small manufacturer like Spyker has to find ways to reduce costs as well as improve its efficiency.
"With approximately half of our vehicles' parts and components sourced in the UK, and virtually all key suppliers being located there, moving closer to our suppliers and engineering partners will result in substantial savings and tangible efficiency improvements.
"We realise that jobs will be affected in the Netherlands but we believe this move is necessary under the current economic circumstances and is in the best interest of the company and all of its stakeholders."
SMMT chief executive Paul Everitt said the UK had more specialist sports car manufacturers than any other European country and the skills and expertise to support further development.
"Investment in UK automotive facilities is good news for the industry and we welcome the news that Spyker has chosen to relocate its vehicle assembly to the UK," he added.Reuse content