Remember the reborn TVR Griffith? TVR's new sports car was revealed way back in 2017 and was supposed to enter production in late 2018. Four years have now passed and TVR still hasn't built a single customer car. Since the reveal, financial setbacks caused major delays and the company's factory in Ebbw Valley, South Wales, needs extensive renovation work before production of the Griffith can begin.

According to Auto Express, TVR has secured a £2 million ($2.7 million) coronavirus business interruption loan and renovation work on the factory is scheduled to begin this month. This extra funding gives TVR another lifeline, but it still falls short of the £25 million ($34.6 million) funding target required to finish developing the Griffith before it can enter production.

When it eventually arrives, the TVR Griffith will utilize a 5.0-liter V8 engine from a Ford Mustang GT tuned by Cosworth producing 480 horsepower. Power is sent to the rear wheels through a six-speed manual gearbox. With a curb weight of just 2,800 pounds thanks to its carbon composite structure, TVR claims the Griffith will accelerate from 0-60 mph in under four seconds and reach a top speed of around 200 mph. It all sounds like the perfect recipe for a sports car. However, development is taking so long that TVR could be forced to electrify the Griffith at this rate.

According to Auto Express, TVR designed the Griffith to support hybrid and fully electric powertrains to make the car futureproof, but it isn't known how this will affect the performance.

When it debuted in 2017, TVR announced the Griffith Launch Edition will have a starting price of £90,000 (around $124,000), but it remains to be seen if the price will increase due to the delays. Last year, TVR said the Griffith is on track for a 2022 launch. Let's hope the British automaker can secure additional funding to finish development because this launch target sounds optimistic.