THE futuristic Aston Martin DBX crossover is to be built in Wales at a brand new factory with investment in excess of £200 million.

About 750 jobs will be created when the revolutionary car is put into production in a new factory created on the St Athan Enterprise Zone in Glamorgan.

More jobs will come at Aston Martin's headquarters in Gaydon, Warwickshire, where a new range of sports cars will be produced.

Prime Minister David Cameron said a few months ago that it was the best site for the new car.

"Aston Martin is an iconic British brand and the decision to invest here shows real confidence in our economy," said Mr Cameron.

"With our economic strengths and easy access to European markets, the UK automotive sector is thriving. It is one of the biggest in Europe - and the most productive - and Aston's creation of up to 1,000 new jobs in Wales and the West Midlands is welcome news."

The company secured about £200 million for the project from share sales to Investindustrial and Tejara Capital in May 2015.

Wales beat off bids from 19 locations the USA, Europe and other parts of Britain.

Dr Andrew Palmer, Aston Martin chief executive, said: "During our 103-year history, Aston Martin has become famous for making beautiful hand-crafted cars in England. Through a detailed evaluation of over 20 potential global locations for this new manufacturing facility, we were consistently impressed with the focus on quality, cost and speed from the Welsh Government team.

"As a great British company, we look forward to St Athan joining Gaydon as our second centre of hand-crafted manufacturing excellence."

Detailed plans to install the new production lines are being worked out and it is anticipated that the first DBX will roll off the new lines in 2020.

Aston Martin has also confirmed that production of the new DB11 sports car will begin at Gaydon in the autumn and that the all-electric RapidE will be built there in 2018.

The company added that over the next five years it will be replacing its entire range of models with production expanding to 7,000 cars annually by 2020.

First Minister of Wales, Carwyn Jones said: "Today is the start of a long-term relationship between Wales and Aston Martin. We will work together in building on the strong foundations of our partnership to nurture a prosperous and rewarding future for this iconic company and its skilled workforce in Wales."