ONE of the last bastions of British-owned car production has been bought by a Russian business tycoon.
UK sports car manufacturer TVR is now in the hands of millionaire Nikolai Smolenski after owner Peter Wheeler agreed to sell the company.
TVR is one of the few privately owned car companies in the UK and specialises in manufacturing high-performance luxury vehicles such as the Chimaera and Griffith.
A company statement said: "Plans for the future are to continue trading, invest heavily in new technology and production methods.
"There will be no large-scale restructuring and new managerial appointments will be made in due course."
Smolenski, 24, was director of Bank OVK until last year.
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