Geely Holding Group says it will plough an additional GBP50m (US$55m) in its London Taxi Company (LTC) greenfield production facility in Ansty, UK, to turn the site into the group’s British R&D headquarters, bringing total investment in the new facility to GBP300m.
At 31,000 square metres, the Ansty facility will now be 50% larger than originally planned to accommodate the enhanced R&D centre and additional technical facilities alongside the production line to build the new TX5 taxi. In addition there will 6,000 square meters of office space.
“We will have invested many years of development and more than GBP300 million in bringing the TX5 to market,” said Zhejiang Geely Holding Group founder and chairman, Li Shufu.
“This is testament to Geely’s commitment to the UK and The London Taxi Company and demonstrates our position on new energy technologies, our workforce and competitive edge when it comes to delivering design and technology.
“At the same time we are happy to play a part in furthering Sino-Anglo relations by investing in the UK and strengthening business and governmental ties between the two nations.”
Geely’s announcement occured as LTC unveiled the new design for its next generation zero emission capable Black Cab, the TX5, at a VIP event in London, as part of the State visit to the UK by Chinese President, Xi Jinping.