Production of the iconic TX4 black cab has restarted at London Taxi Company’s (LTC) Coventry plant, following significant facility improvements by new owners, Geely Group.
A £150 million five-year investment strategy has allowed LTC, formerly LTI, to re-open its Coventry facility after entering administration earlier in the year. The increased funding has also helped create an additional 66 engineering and technical jobs, increasing the company’s total workforce to 170.
LTC’s upgraded Coventry plant is capable of building 50 new taxis a week. The company also plans to develop new, more efficient models in future.
Business Secretary, Vince Cable MP said, “Geely Group’s investment has secured the future of the iconic black cab company, protecting highly-skilled jobs in the Midlands and ensuring that London cabs continue to be made here in Britain.”
Around half of the 2,000 vehicles expected to be built in the first year following LTC’s restart will be exported overseas markets.