Geely, the Chinese company that also owns Volvo, now owns Manganese Bronze Holdings (MBH), makers of London's Black Cab. MBH went into administration late last year, and some had looked to Geely to rescue the company in which it had a 19.7-percent equity stake. Although it's taken three months to strike a deal, and more than half of the workforce was let go, Geely finally agreed to buy MBH for 11.4 million pounds ($17.9M US).

The purchase confers to Geely "the business and principal assets" of MBH, including the intellectual property and trademarks, equipment, properties, unsold stock, "goodwill" and complete ownership of the China-based joint venture in which Geely was producing the Englong SC7-RV. Happily for fans of the iconic product, the deal keeps production in Coventry and Geely has stated its desire to reestablish and grow the firm.

Reasserting authority in the UK taxi market and getting back in the good books of owners will take money and commitment. Manufacturers like Nissan and Mercedes-Benz have been poaching former owners of LTI products, and what current owners have seen as a lack of service and support has turned apathy into ire. Geely will need to put the time and money into new, competitive and reliable models to make a success of its latest purchase. If those new models can retain the Black Cab's aesthetic place in the London streetscape, all the better for it.


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    • 1 Second Ago
  • 24 Comments
      Jerry
      • 1 Year Ago
      When did Geely pick up Volvo? Do they own all all of Volvo (auto, heavy equipment, marine engines, etc.)???
      H.E. Pennypacker
      • 1 Year Ago
      the british better start selling opium to china again.
      • 1 Year Ago
      [blocked]
      kmdk78
      • 1 Year Ago
      Sad for such an iconic brand. I am actually surprised that at such a low price a UK buyer did not step up
      vaua70
      • 1 Year Ago
      KARMA,, the English always wanted to own have everything and now another Asian country owns another English car manufacture
        desinerd1
        • 1 Year Ago
        @vaua70
        In 19th century, British were the dominant power. In 20th century it was the US. In 21st century, it will be China.
        Alistair Lee
        • 1 Year Ago
        @vaua70
        It's ugly, not profitable, not really iconic (double decker bus is more iconic), and everybody else can build new london taxi as long as it's black (imagine nissan nv200 in black and taxi sign on its roof, it's still scream London Taxi). I think British lose nothing.
      M5_4_life
      • 1 Year Ago
      Western greed will eventually lead to slavery of themselves. No pride at all! How many major Chinese interest do American or British own?
      AnalogJesse
      • 1 Year Ago
      These are some of the best-designed cabs I've ever been in. Shorter than a NYC taxi, with 4 times the room. It amazes me how much Americans love to waste space.
        kmdk78
        • 1 Year Ago
        @AnalogJesse
        Great description. NYC should have chosen MBH
      • 1 Year Ago
      [blocked]
        Alistair Lee
        • 1 Year Ago
        So what? Chinese is human just like americans, japanese, or germans. They have the right to build business. As far as I know, the cheap auto companies could never dominate all the sales in the world. Hyundai used to be cheap auto company, and at its prime (before they're levelling up), their sales aren't surpassing GM or Toyota.
          • 1 Year Ago
          @Alistair Lee
          [blocked]
        icemilkcoffee
        • 1 Year Ago
        London cabs is not exactly the Family Jewels. Let\'s not be silly here. It\'s not like they sold off the Big Ben to China. Anyways- it was a much bigger deal back when they sold off MG-Rover to China a few years back. This London Black Cab deal is pretty insignificant by any measures.
          to your email L
          • 1 Year Ago
          @icemilkcoffee
          Indeed they sold BLMC off in pieces and they sell the 'Rover' there as the 'Roewe'. And the Triumph marque they sell in China and build/sell it in the UK as well, in fact it's available in car rental fleets, I was hoping to rent one but apparently it wasn't available with an automatic yet in the rental fleets.
        Al Terego
        • 1 Year Ago
        If "they" practice business prowess it's "invading". If something you support does the same, it's all good. Okay whatever buddy.
      diffrunt
      • 1 Year Ago
      The English brands crashed from living too deep in tradition.
      desinerd1
      • 1 Year Ago
      The new cabs will come preinstalled with hidden gps trackers, bugs and cameras.
      SloopJohnB
      • 1 Year Ago
      Kind of a questionable digest article when LTI is noted but not explained WTF it has to do with Geely or MBH.... For enquiring minds... LTI in Coventry went into administration in October with 99 out of its 176 workers losing their jobs.
      geneknish
      • 1 Year Ago
      If there going to continue to build this iconic taxi maybe they will bring back the Volvo 240, that would be awesome!
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