A new London Taxi Co (london-taxis.co.uk) factory that will manufacture electric and ultra-low emission versions of the iconic black taxi-cab was officially opened earlier this month in Coventry, following a £300 million investment by Geely.

The 85,000m² site at Ansty Park — expected to create up to 1,000 new jobs — will house all of the company’s R&D and assembly operations.

The company has held pre-launch events in Amsterdam, Berlin, Barcelona, Paris and Oslo to raise the European profile of its new TX5 vehicle.

LTC says that the new factory will eventually have the capacity to assemble up to 36,000 vehicles a year (this is a 10-fold increase on the company’s existing site in Holyhead Road, Coventry, which has been producing black taxis for almost 70 years). However, initial production will be 5,000.

The Unite trade union called the opening of the factory one of the “great come-back stories in UK manufacturing history”. In 2013, the then London Taxi International was on the brink of closure, following the collapse of parent group Manganese Bronze. After the company’s Chinese rescue and re-branding, the workforce has increased from 150 to 450. It is expected to reach 1,000 by 2020.

Unite regional officer Peter Coulson said: “This is a fantastic story of a company that was on its knees in 2013; now, thanks to the commitment of Geely’s top management and accompanying large-scale investment, the iconic London taxi is set for its continued renaissance.

“Tribute should also be paid to the dedicated workforce, who have worked hard and diligently to contribute to the current success.”