London’s Iconic Black Cabs Go Back into Production

Manganese Bronze Ltd. maker of the famous London black taxicabs for six decades has resumed production that had been halted by receivership.

The company went into court administration last October after its 20% owner, Zhejiang Geely Automobile Holding Group Co., refused to inject more capital into the Coventry-based company.

But last February Geely agreed to invest 11 million to buy the company. The Chinese company, which also owns Volvo Cars, said it would spend another 100 million over five years to revitalize the cab maker's operations.

Manganese Bronze built 1,100 taxis in 2011 but only 900 units last year before being forced to halt production. Geely says the company will post a profit this year and aims to achieve full annual production of about 2,000 vehicles over the next 12 months.

The company says it has a contract to deliver 1,000 cabs to Azerbaijan and is likely to export more taxis than it sells in the London market.