Geely Group restarts London taxi production

COVENTRY - The London Taxi Company restarted production of the famous black cab on Wednesday, six months after the business was rescued by Geely Group of China.

Following significant improvements to London Taxi Company (LTC)'s manufacturing facilities in Coventry and the creation of around 66 new jobs, the company has once again commenced the building of new TX4 models on its production line. Geely Group Chairman Li Shufu and Britain's Business Secretary Vince Cable were present to officially start production.

"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. We are pleased to have created dozens of new jobs, and have already begun work on the planning and design of the next generation of this iconic vehicle. Thanks to the work of everyone here and everyone that has supported us, LTC has an exciting future ahead of it,"said Li.

"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. It is also a clear demonstration of the success of the British car industry which has gone from strength to strength even during tough economic times," Cable said.

Since Geely Group acquired the company from the administrators in February 2013, the company has cleared the inventory of vehicles that remained following the closure of the production facilities in 2012.

Once fully up and running, the production line will complete around 10 new taxis a day, five days a week, and the vehicles will be the most sophisticated produced by LTC with additional quality improvements.

Following the investment by Geely Group, LTC has created an additional 66 engineering and technical jobs in Coventry and has also expanded its London operations with the recruitment of new sales people. This has increased the total workforce to just under 170.