Production of the London Taxi Company’s (LTC) iconic TX4 black cab has restarted at its Coventry plant, following significant facility improvements and job creation by new owners, Geely Group, the Socety of Motor Manufacturers and Traders (SMMT) announced.

A GBP150m, five year investment strategy has allowed LTC, formerly LTI, to re-open its Coventry facility after entering administration earlier in the year. The increased funding has also helped create an additional 66 engineering and technical jobs at the plant and increase the company’s total workforce to 170.

LTC’s upgraded Coventry plant is capable of building 50 new taxis a week while improved processes make the TX4 the most advanced London taxi yet. The company also plans to develop new, more efficient models to follow the TX4 and is considering investing in additional production facilities across the UK.

Around half of the 2,000 vehicles expected to be built in the first year following LTC’s restart will be destined for overseas markets, with contracts to provide taxis to Saudi Arabia and the United Arab Emirates already in place.