Taxi maker hails new owners

China's Geely Group secures jobs in Coventry

Published:  20 September, 2013

BLACK cabs are back in production in Coventry, six months after the firm was rescued by its new Chinese owners Geely Group.

At a ceremony at the factory in Coventry, Vince Cable, business secretary, said, "After a period of worry and uncertainty for the workforce, Geely Group's investment has secured the future of the iconic black cabs company, protecting highly skilled jobs in the Midlands and ensuring that London cabs continue to be made here in Britain."

In February, Geely paid £11m for the 80 per cent it did not already own of Manganese Bronze, parent of the London Taxi Company which has made the famous black cab for 60 years.

The Chinese company, which also owns the Volvo marque, says it plans to invest an additional £150m to bring the new TX5 taxi model into production, and move to a new larger UK factory, with three sites currently under consideration.

Daniel Li, chairman of the London Taxi Company and chief financial officer of Geely Group, said: "We [will] stick to our plan and we deliver what we promise."

Since the takeover the Chinese owners have increased the workforce back up to 168, including 15 people who were laid off last year.

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