Taxi Driver Online

Coventry business leaders welcome huge London Taxi Company jobs boost


Experts believe investment will help strengthen the city’s reputation

Plans to create 500 new jobs at Coventry’s London Taxi Company have been welcomed by the city’s business leaders.

Experts believe the massive jobs boost will help strengthen the city’s reputation as a world leader in manufacturing.

And they say the announcement is an “amazing turnaround” for the company - which just a year ago collapsed into administration .

The firm’s new owner, Chinese automotive giant Geely, revealed this week plans to invest £80million - part of a £150m investment over five years - into research and production of the new hybrid TX5 model - a move which would quadruple the workforce at its Holyhead Road factory.

The news comes just three months after production of the iconic black cab restarted in the city.

The troubled London Taxi Company, which was previously known as LTI, was rescued by Geely when its previous owners Manganese Bronze Holdings went into administration a week after the firm was forced to recall 400 cabs due to a steering box fault.

This week’s announcement has been branded fantastic news for the company and the region.

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “Of course, this is extremely positive news and the resurgence of the London Taxi Company is a significant boost for the city and its automotive sector.

“This region has had very strong ties with China for many years now and this investment, which could lead to the creation of so many new jobs, will be very welcome.

“It is very important that as a city and our region, we understand the needs of the company as it looks to grow and invest and offer our support where we can.”

Former Chamber president and manufacturer Doug Squires, of Squires Gear and Engineering, said: “This is an amazing turnaround from a couple of years ago and far exceeding what was expected following the wonderful £11.4million investment by Geely in September.

“We are now looking at a huge £80m investment, to research and develop the proposed TX5.

“This is indeed very welcome news, further putting this sub-region on the world map as a centre for both R&D and manufacturing.”

http://www.coventrytelegraph.net/news/b ... ge-6370733

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

I hope it goes well, and the new hybrid sells.

But it needs to be priced well below the current silly levels.

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IDFIMH

Yet again the British fail to invest in a home grown product ffs

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All posts by this contributor are made in a strictly personal capacity

I AM PROUD TO BE A CITIZEN NOBODY'S SUBJECT http://www.republic.org.u

F88K EM ALL WHAT GOES AROUND COMES AROUND

BOOZE BOOZE BOOZE

Mmmm let me see £80 million investment into something that at most makes 2500 vehicles a year. something tells me that its going to be very expensive indeed

Well they did, but sadly the British designed, built and funded vehicle was/is a piece of garbage.

Maybe the unions could invest in such British firms instead of paying for Labour's billboard advertising.

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IDFIMH

so the chinks will feck up................dont think so

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All posts by this contributor are made in a strictly personal capacity

I AM PROUD TO BE A CITIZEN NOBODY'S SUBJECT http://www.republic.org.u

F88K EM ALL WHAT GOES AROUND COMES AROUND

BOOZE BOOZE BOOZE

And so will the chinky version, they cannot even make a decent mass produced vehicle that parts don't fall off