London Taxi Manufacturer To Create 1,000 Jobs
The manufacturer of the iconic London taxi is to build a new £250m factory in Coventry, creating 1,000 jobs.
The news was announced hours after Jaguar Land Rover said it had committed £600m to support its own operations in the West Midlands.
The investment in the London Taxi Company, by its Chinese owner Geely, is being supported by the Government's Regional Growth Fund.
Geely said the new state-of the-art research, development and assembly facility would prepare the ground for the introduction of the next generation electric and ultra-low emission London Black Cab.
It would have the capacity to assemble up to 36,000 vehicles a year - a ten-fold increase on the capabilities at its existing Coventry plant which has produced more than 130,000 cabs since 1948.
The company, which was formed following the demise of Manganeze Bronze. said it was to develop the next generation black cab to comply with new emission regulations being introduced by the City's mayor from 2018.
Boris Johnson said: "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.
"I warmly welcome Geely's commitment to building this impressive new factory in Coventry, highlighting the UK's position as a world leader in the development and manufacturing of ultra low emission technologies.
"The vehicles this facility produces will help transform London's taxi fleet, boost jobs and growth in London and the West Midlands, and secure the long-term future of the taxi industry, whilst ensuring everyone who lives, works in or visits our city has the cleanest possible air to breathe."
Jaguar Land Rover said its investment would support product creation and advanced vehicle manufacturing.
The largest single investment was made at its Castle Bromwich plant to support the introduction of the new Jaguar XF.
Jaguar Land Rover chief executive Dr Ralf Speth said: "Jaguar Land Rover continues to demonstrate its unwavering support to the British automotive industry through sustained investments in advanced research, technology and innovation.
"This investment, made here in the heartland of our UK business operations, signals the confidence we have in this region to support the creation, engineering and manufacturing of ultra-low emission, premium British products, today and in the future."
