THE CHINESE owner of London’s distinctive black taxis has snapped up another slice of the British motoring industry, buying UK-owned electric van technology company Emerald Automotive.
Geely Group, which saved the London Taxi Company from bankruptcy in February last year, will invest $200m (£119.5m) in the group between now and 2019 and maintain its current manufacturing facility, based in Missouri, USA.
The tie-up between Geely and Emerald could pave the way for electric black taxis to hit the streets of London.
In January, London mayor Boris Johnson said all new taxis in the capital should be capable of emitting zero emissions by the turn of 2018.
Geely UK chairman Donghui Li said: “By working closely with Emerald, we will be able to offer a new, unique range of vehicles that employ best-in-class technology.”