UK's luxury car maker, Aston Martin is all geared up to start its new factory in south Wales to manufacture DBX crossover model.
The construction work for the factory will begin in 2017 and production of cars is expected to begin at 2020.
With this plant, the company hopes to create at least 750 highly skilled jobs.
The plant will be producing the DB10, the sporty model driven by Daniel Craig in the latest James Bond movie, Spectre.
Aston Martin chief executive, Andrew Palmer said: "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 handcrafted manufacturing excellence."
Palmer said there are several advantages of St Athan for choosing the location.
He said "The Welsh offer wasn't financially enticing but share holders had to understand the balance that had to be made on quality, cost and time, and St Athan was on time," he said.
"We don't have to build a building. It won through in terms of quality of workforce and supplies and relationship with the government of Wales."
The Welsh first minister, Carwyn Jones, said: "I am delighted to officially welcome Aston Martin to Wales."
"We have been working closely with the company for almost two years in the face of fierce competition from other potential sites across the world.
