A £600 millionnew car investment has been confirmed for Wales.

The anticipated Grenadier 4x4 vehicle will be assembled in a new factory at Brocastle, backing onto the current Ford Bridgend Engine plant which is due to close in 12 months with the loss of 1,700 jobs.

Grenadier will initially create about 200 jobs in Bridgend and 300 more over time but there are likely to be still more jobs safeguarded or created in the component supply sector in Wales and the UK.

The go-ahead follows months of speculation that the so-called Projekt Grenadier's backer and one of the UK's richest men, Sir Jim Radcliffe, wanted to build his 4x4 model in Britain under his Ineos Automotive brand.

That was created four years ago after Land Rover announced it was ending production of its famous Defender, but it has been relaunched this month at the Frankfurt Motor Show and is reportedly already attracting interest from future buyers.

Ineos has decided to go with BMW, who sold Land Rover to Tata Motors, for the diesel and petrol engines and will use automatic transmissions in a variety of body styles to meet global demand from its Bridgend plant.

Sub-assemblies will be made in Portugal and sent to Brocastle for final assembly.

Brocastle estate was earmarked for industrial use over a decade ago but an initial plan fell through. It has remained in Welsh Government ownership and in May the go-ahead was given for the 116 acres development with completion mid-2020 at a cost of £16 million.

That timescale will suit Ineos to fit out the factory and begin manufacturing its 4x4, helped by training and investment grants.

Working with BMW will give Grenadier proven and quality power units and allow Ineos to cut development time while meeting tough emissions regulations and open the door to future hybridization of the Grenadier.

The Grenadier investment comes after the Welsh Government secured Aston Martin Lagonda luxury cars at St Athan and the TVR sports cars' investments at Rassau, Ebbw Vale, which is now undergoing fitting out for production.

Further automotive projects are being discussed for future investments in Wales.