London Taxi Company owner to invest £250m in new Coventry site
Geely, the Chinese owner of the London Taxi Company, is to invest £250m to build a new 85,000 square metre research, development and assembly facility in the Ansty area of Coventry. Up to 1,000 new jobs will be created through the investment in the site, which will eventually have the capacity to assemble up to 36,000 vehicles a year. The London Taxi Company is developing the next generation London Black Cab, an ultra-low emissions vehicle, which will be launched in the UK at the end of 2017. The new vehicle will comply with new regulations being introduced by the Mayor of London that will reduce the level of emissions allowed from new taxis from January 2018. More than 130,000 London Black Cabs have been produced at the London Taxi Company’s existing Coventry site since 1948. Geely rescued the London Taxi Company out of administration in 2013 and this is the largest ever greenfield investment in the UK by a Chinese company. The investment is being backed with funding from the UK Government’s Regional Growth Fund and other UK and local government support.