In 2017, Jim Ratcliffe founded Ineos Automotive Ltd. with the purpose of creating and producing an off-road utility vehicle, intended as a modern successor to the Land Rover Defender. This project was known by the codename "Projekt Grenadier." After extensive development, the vehicle was officially named the Ineos Grenadier.

Initially, in September 2019, plans were unveiled to manufacture the Ineos Grenadier in two new facilities: one in Estarreja, Portugal, responsible for chassis and body production, and the other in Bridgend, South Wales, designated for the final assembly. BMW was to supply the powertrains for the Grenadier. The target for its launch was set for the year 2022.

However, in December 2020, Ineos made a significant announcement that the final assembly of the Ineos Grenadier would be shifted from South Wales to Hambach, France. This decision stirred controversy, with Welsh Labour MP Chris Elmore expressing strong disapproval. He pointed out the contrast between Ineos CEO Sir Jim Ratcliffe's support for Brexit and the company's choice to relocate production to an EU country.