Geely Automotive Holdings Group Charman Li Shufu has signed an agreement to invest in the production of brand named taxi's with British
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| Photo: London Taxi International |
based Manganese Bronze Holdings group and Shanghai Maple, a Geely Auto subsidiary. MBH is a specialty automotive products and services group.The signing took place at London's Royal Garden Hotel on Oct. 24th.Under the agreement, the new joint venture company will see the popular TX4 London Taxi's produced in China. Geely will become the largest shareholder of MBH, with 23% of expansion capital stock. The resulting venture will put 51% of the shares in Geely's hands, with 1% belonging to Shanghai Maple and 48% belonging to MBH. Industry specialists speculate that the venture will bring positive benefits to each party in the near future. The cars manufactured by the JV will go on sale mainly in England and other
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| Photo: London Taxi International |
foreign markets, although they will be introduced to China as well. The venture is undoubtedly meaningful from a business perspective, though the sense of international co-operation has pleased many international investors. MBH stock price, for instance, has jumped in the last two months on speculation about the venture.The signing ceremony was attended by National Political Consultative Conference President Jia Qinglin, and Privy Council Dean Baroness Amos.