Black cabs going red: London taxis to be made in China
LONDON // The iconic black London taxi is to be partly made in China, with production of the body panels and chassis shifting to Shanghai. Manganese Bronze, the leading manufacturer of the cabs, said the parts for its TX4 vehicles will be made in Shanghai, in a move costing 60 jobs at its plant in Coventry, central England.
The company already makes taxis in Shanghai for the Chinese and international markets, under a joint venture. The move "will lead to a smaller, lower cost UK operation with a much greater level of supply from China," said Manganese chief executive John Russell. "Because we are very much a British brand, and that was of immense value to our customers, it seemed the best option to maintain a smaller manufacturing presence in Coventry."
Manganese's underlying pre-tax losses worsened to £8.1 million (Dh45m) last year from £6.2 million (Dh34.4m) in 2008.