A £250m taxi plant will be built near Rugby, bringing 1,000 jobs to the area.
The London Taxi Company’s state-of-the-art facility will be based at Ansty Park, with the first eco-friendly black cabs expected to be produced in 2017.
For jobs, and for the wider economy, this is good news for the boroughRugby Borough Council spokesman
Chinese manufacturer Geely, which bought the London Taxi Company two years ago, said it would be introducing the next generation of electric, low-emission cabs.
Up to 1,000 new jobs will be created through the investment in the site, which will eventually have the capacity to assemble up to 36,000 vehicles a year.
This is a ten-fold increase on capacity at the company’s existing site in Holyhead Road, Coventry, which has been home to the London Taxi Company for almost 70 years.
A spokesman for Rugby Borough Council said it was good news for the borough.
“Geely had the choice of several locations across the UK, so it was certainly not a foregone conclusion that the London Taxi Company would come to Rugby,” he said.
“A great deal of work has taken place to attract businesses to the Ansty Park site.
“Rugby Borough Council has earned itself a reputation for being easy for businesses to work with, providing positive help with the planning process and having a good understanding of a businesses’ needs.
“Ansty Park is now the home to a number of major brands and advanced manufacturers, and is rapidly becoming a centre of excellence for manufacturing technologies. For jobs, and for the wider economy, this is good news for the borough.”
Peter Johansen, vice president of UK operations for the London Taxi Company, said: “We are proud of the company’s regional heritage in an area that is steeped in automotive and manufacturing history . We intend to build vehicles in the vanguard of environmental technology which set new standards for comfort and performance.”
The 85,000 sq m site will house all of the company’s research, development and assembly operations.
Production of the iconic London Black Cab began at the London Taxi Company’s existing Coventry site in 1948 and since then more than 130,000 vehicles have rolled off the assembly lines.
Li Shufu, founder and chairman of Zhejiang Geely Holding Group, said: “This investment will secure the future of the London Taxi Company. Almost two years after we acquired this company - in which we first took a stake in 2006 - it has become an important part of our global automotive strategy.”
The news comes on top of the announcement that Jaguar Land Rover plans to invest £400m in its headquarters in Whitley, Coventry.
It is believed the Jaguar Land Rover development will create around 4,000 direct jobs and up to 11,000 indirect jobs through its various supply chains.