London’s iconic black cab green received a major lift with Chinese manufacturer Geely planning to invest £250m in a new Coventry factory.
According to the London Taxi Company (LTI) sources, the new purpose built facility will focus on building new electric and ultra-low emission taxis which will hit the market in 2017, as well as on further research and development.
As part of major initiative to reduce the air pollution in the city, London Mayor Boris Johnson is targeting taxis.
According to him, all new London taxis will need to be able to operate without producing any emissions at the tailpipe from 2018.
“The production of zero emission capable vehicles, incorporating the latest state of the art technology, is essential as we strive to create the greenest taxi fleet in the world for London,” Johnson said.
In addition, the vehicles will help to transform London’s taxi fleet, boost jobs and bring in growth in London and the West Midlands.
The Coventry factory at present plans a major expansion, which will help in creating up to 1,000 new jobs.
The new plant will have the capacity to produce up to 36,000 vehicles per year, compared to 3,600 at the current plant.
LTI plants will start exporting taxis to international market by 2018, once the car hits the UK market in 2017.
The positive impacts of Geely’s investment can also be experienced through the UK and European supply chain. The new vehicle is expected to make increased use of British and EU content compared to the current car.
According to Geely authorities, the investment will secure the future of LTI.
Sabeena Wahid
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