Chinese industrial group Geely, which owns Swedish car maker Volvo, has bought the company behind London’s iconic black taxis for £11 million.
The deal to buy the “business and the principal assets” of Manganese Bronze Holdings was agreed with PwC, which was appointed administrator in October.
Geely, which was the company’s biggest single creditor, said it would continue to assemble the TX4 model at Manganese Bronze’s plant in Coventry.