COVENTRY, England : China's Geely is planning a big investment to turn the maker of London's iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles, executives at the unit told Reuters.London Electric Vehicle Company (LEVC) also aims to expand its suite
COVENTRY, England : China's Geely is planning a big investment to turn the maker of London's iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles, executives at the unit told Reuters.
LEVC builds a hybrid taxi model that starts at around 66,000 pounds , which has a battery providing 64 miles of range and a petrol range-extender giving it a total range of over 300 miles. The company's business was hit hard by the pandemic and it laid off 140 staff in October. "Geely fully supports the new transition strategy laid out by LEVC's board and executive team," Geely said in a statement.
"We need to make sure the UK environment as a whole is competitive and has its position on the world stage," said LEVC managing director Chris Allen.Geely owns multiple brands including Volvo and - via a joint venture with Volvo - Polestar. Zeekr, another brand in the group, filed for a U.S. initial public offering last month.Allen said LEVC was exploring a range of commercial and passenger car models on a common electric platform.
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