The London Taxi Company, maker of iconic London Black Cabs, is a subsidiary of China's EV maker, Geely. Not to be confused with yellow cabs which look like bananas, black cabs look like much older bananasโฆ glad we cleared that up.
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Geely announced plans to transform the taxi brand into a high-volume, all-electric behemoth through investments in production, tech, and a broader suite of services.
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Since taking control of what is now called London Electric Vehicle Company (LEVC) in 2013, Geely has invested over $600M in the brand. This new investment plan has yet to be specified financially.
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