Geely To Invest Over $200 Million Building Plant To Construct Emerald Designed Taxis in UK

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(China News - January 6, 2015)  Dow Jones reported today that China’s Geely will invest hundreds of millions of dollars in manufacturing facilities in the UK to build the next generation of the London Taxi.  The new model, designed by Emerald Automotive, is expected to be a ‘green’ version of the iconic cab.

 

February 28, 2014, Geely Britain acquired electric car maker Emerald Automotive.  Spokesman Yang Xueliang, said the purpose of the acquisition is to help the company upgrade to create the ‘Next Generation’ taxi, including the development of an electric taxi.

 

The newly designed electric London Taxi by Emerald Automotive and The London Taxi Company

 

Emerald Automotive has developed two models of electric vehicles, and plan to manufacture in Missouri.  Over the next five years Geely has committed to invest an additional $200 million to develop electric vehicles in the Emerald Automotive Series, all in the United States.

 

Geely Group and Emerald Automotive will work together to plan, develop and validate the advanced technologies for the new range of vehicles.  Andy Tempest, Emerald Automotive CEO, said: “This is a fantastic opportunity which will allow us to expand our current vehicle development work in line with Geely Group’s global vision.”

 

 

Yang Xueliang also said that after the company completed the purchase of Emerald Automotive, Geely agreed to the terms of the loan commitments, including those related to the future plant program in Hazelwood, Mo. 

 

Contact:  Gary Marble, Communications Director (636)384-9575