Ineos has confirmed its new Grenadier cars will be manufactured in France, not Wales as had been hoped.
The chemical conglomerate, controlled by prominent Brexit supporter
Sir Jim Ratcliffe, said it will build the vehicles at the former Mercedes-Benz factory in Hambach, Moselle, following a deal with the German carmaker.
Production of a new vehicle, inspired by the Land Rover Defender, was due to begin in Bridgend next year, creating around 500 jobs once production reached full capacity.
The plant would have been built next to the Ford engine plant at Bridgend, which recently closed with the loss of 1,700 jobs.
Ineos said on Tuesday the French factory was "well located for access to markets, suppliers and automotive talent".