Economic Development Minister Andrew Davies and Wales Tourist Board chairman Philip Evans were expected to attended to launch, which will include a presentation by Francois Arbellot, from Brittany.

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Despite such worries, the car exchange is likely to succeed, argues Philip Evans, of the Boston Consulting Group, if for no other reason than that the car industry is so unusual.

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The other eight backers are retired professor Tricia David, Nobel Prize-winning scientist Sir John Sulston, journalist Philip Knightley, Lady Caroline Evans, friend Sarah Saunders, Joseph Farrell, Sarah Harrison and Tracy Worcester.

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Defence Secretary Philip Hammond told the BBC he was "shocked" by the allegations about Mr Evans.

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