Manufacturing News

Geely plans 2.6 billion yuan factory for London Taxi in U.K.

Zhejiang Geely Holding Group Co. will invest 250 million pounds (2.6 billion yuan) to build an assembly plant in the United Kingdom to produce the iconic London taxicab.

The factory, to be constructed in Coventry, England, will produce up to 36,000 vehicles a year, Geely said. That will be 10 times the annual production capacity of London Taxi Co.'s existing plant in Coventry.

The 85,000-square-meter site will include an r&d center, and the plant complex will employ up to 1,000 people. Geely will build next-generation London taxicabs, which will debut in the United Kingdom in late 2017 and go on sale elsewhere the following year.

In 2013, Geely acquired London Taxi after obtaining a stake in the company in 2006. The Coventry plant resumed production of the current-generation TX4 taxi seven months after Geely's acquisition.

Geely, which also owns Volvo Car Corp., is headquartered in the east China city of Hangzhou and listed in Hong Kong.

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