TVR Announces a Funding and Technology Partnership with Ensorcia

TVR is delighted to announce that it has today signed an agreement with Ensorcia Metals Corporation that provides significant funding for the formation of a joint venture in the EV space as well as for the production of development of the V8-engined Griffith through its affiliate Ensorcia Automotive. Work on future powertrain alternatives has already commenced, along side development of the TVR product family beyond the Griffith Launch Edition.

Building upon the green credentials of TVR's light-weighting strategy, new partner Ensorcia specializes in green lithium mining and processing, using a patented brine extraction process high quality lithium with maximum environmental and operational efficiency.

Les Edgar, Chairman of TVR said: "Today we have reached another milestone in out mission to rejuvenate and future-proof our iconic British brand - it has been clear for some time that EV has to be part of our future. Finding the right partner for the road ahead has been a complex process - the right synergistic fit coupled with a shared vision for the future in rapidly changing times - and we are thoroughly excited to be partnering with Ensorcia. Having access to advanced EV tech including supplies of green lithium via the leading, environmentally considerate process, is a hugely important element in ensuring that TVR will become a sustainable, net-zero business."

Daniel Layton, Chairman of Ensorcia said: "We are delighted to announce this partnership with such a historic and important automotive brand. Along with the current model, we believe the global development of TVR EVs will be among the most exciting EVs in the market. The tight synergy and alignment between our companies and vision will ensure the supply chin for TVR's future battery requirements. Our green lithium extraction process and TVR's approach to environmentally friendly manufacturing creates a great partnership with we believe will experience enormous growth over the coming years."

About TVR

TVR is as independent British sports car manufacturer established in 1947 by Trevor Wilkinson. The business established itself as a leading light in the British low-volume sports car market, building an international reputation for high-performance vehicles and innovative design. The current management team acquired the brand in 2014. TVR recently accounced the extensive renovation of its new production favility in Ebbw Vale Enterprise Zone, Southe Wales, which is due for handover in the first quarter of 2022. The specific date for start of production of the Griffith Launch Edition will be the subject of a future announcement.

About Ensorcia

Ensorcia is a group of companies that are dedicated to the development of net-zero carbon technology and environmentally sustainable production and processing of battery metals in South America through Sorcia Minerals, and processing in Europe and North America.�