Skip to content

GEELY GROUP RESTARTS PRODUCTION OF ICONIC LONDON TAXI

12/09/2013

The London Taxi Company,  restarted production yesterday of its famous black cab, six months after the business was rescued by Geely Group of China.

Following significant improvements to The London Taxi Company’s manufacturing facilities in Coventry and the creation of approximately 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 Business Secretary Vince Cable were present to officially start production.

DSC_0026

Production restarts at the London Taxi Company

Chairman Li said: “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 those who have supported us, The London Taxi Company has an exciting future ahead of it.”

Mr Cable 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.
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."

Vice President, UK Operations Peter Johansen Said: “The last twelve months have been very difficult for the company but following the acquisition of The London Taxi Company by Geely, we now have a secure and exciting future. The financial strength and commitment of Geely provides us opportunities to continue to improve our TX4 Taxi and, at the same time,
develop the next generation of Taxis to take us forward into the 21st century”.

He also thanked his colleagues at the London Taxi Company and the Unite Union saying: “The London Taxi Company has a highly skilled, hard working and loyal workforce who are prepared to go the extra mile to satisfy our discerning customers and who rightly take pride in building the iconic London TX4 Taxi here in Coventry”.

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
The London Taxi Company with additional quality improvements.

Following the investment by Geely Group, The London Taxi Company has created an additional 65 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.

The first month’s expected production has already sold out and the company expects to sell almost 2,000 vehicles in the first year following today’s restart of production. Around half of these will be for the overseas market after The London Taxi Company won export contracts in Saudi Arabia and the United Arab Emirates.

As part of a £150m five-year investment plan, Geely Group is continuing to examine the future needs of the London taxi market, with a view to developing new models to follow the current TX4, improving the energy efficiency and environmental footprint of the traditional London cab . The London Taxi Company is also examining a number of potential new production sites in the UK, both in the Coventry area and elsewhere.

London Taxi Company 110913

Geely Group Chairman Li Shufu and Business Secretary Vince Cable were present to officially start production.

Geely Holding Group Co. Ltd. was founded in 1986 with its headquarters in Hangzhou, China. Geely Holding Group and its associated companies have established operations that span the automotive value chain, from research, development and design to production, sales and servicing. They are a fully-integrated independent auto manufacturer producing cars, engines and transmissions. Today, they are one of China’s fastest growing automotive manufacturers, as well as the industry’s leading privately held group.

For further information, please contact:

Geely Holding Group:

Victor Young: +86 159 0662 0333, victor@geely.com

The London Taxi Company:

Nyasha Pitt: +44 (0)24 7657 2137, npitt@london-taxis.co.uk

Brunswick Group, +44 20 7404 5959:

Michael Harrison, London: +44 7834 502 406, mharrison@brunswickgroup.com

David Litterick, London: +44 7974 982 455, dlitterick@brunswickgroup.com

Tong Zhao, Hong Kong: +852 9011 8258, tzhao@brunswickgroup.com

Yue Yu, Beijing: +86 139 1071 9924, yyu@brunswickgroup.com

Advertisements

Comments are closed.

%d bloggers like this: