London Taxi resumes production under new Chinese ownership

If you have ever been to England, you’d know that the London Taxi is as big a part of the local landscape as Buckingham Palace, Hyde Park or Big Ben.

user no picture
Journalist
Published on 2013/09/13

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.

Similar Articles

Jaguar throws a big party, unveils new XE

Jaguar throws a big party, unveils new XE

Sep 9, 2014

Jaguar is preparing to return to the highly competitive compact luxury sedan s…

2014 Ford Transit Connect Taxi details revealed

2014 Ford Transit Connect Taxi details revealed

Sep 27, 2013

In most major North-American metropolis cities, the preferred choice for the t…

You might also like