However, the fate of the London Taxi was uncertain, as the company was struggling to keep its doors open. Six months ago, the London Taxi Company (LTC) was rescued by the Chinese firm Geely, which not only produces cars under its own label, but also owns Volvo cars.
Now the production line at LTC’s facility in Coventry, England is alive once again. This facility is capable of producing 50 "black cabs" a week, and LTC claims these new models are the most sophisticated cabs the company has ever produced.
All this is possible thanks to Geely’s $245-million investment in LTC. The money spent will aid in research and development of future models, as well as keeping the current line up to date.
Geely Group chairman Li Shufu was present as the production line restarted and commented: “Today is a milestone in the history of the London Taxi Company, but it marks just the beginning of what we believe will be a strong and prosperous future.”
The restart of production at LTC has also created full-time jobs for 65 employees.