Geely became the sole owner of the taxicab company in 2013 after the British company got into financial crisis.
The expansion will take place near the present plant in english Coventry, where taxis built in almost 70 years. A new plant will increase capacity tenfold to 36,000 cars per year from 2018 and can provide upward thousand jobs, Geely writes in a press release.
“This investment will secure the future of the London Taxi. The company is an important part of our global cars strategy, “said Geely founder Li Shufu, according to the press release.
Newly appointed Carl-Peter Forster, who is advising the Geelygruppen and sit in Volvo Cars, Board of Directors, the new Chairman of London Taxi.
The plans include an electric taxi to meet new demands from the Mayor of London to lower emissions until 2018.
How investment totaling £ 250 million to be funded is not clear.
Geelygruppen own except Volvo Cars and the taxi company, even the Chinese car maker Geely Automobile. For Geely Automobile was tough last year with sharp decline in sales.
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