Electric taxi factory opens in Coventry

The £300 million London Taxi Company factory has opened in Coventry and will have the capacity to assemble more than 20,000 vehicles a year.

Built with a £300 million investment from LTC’s owner, the plant will include a new state-of-the-art research, development and assembly facility at Ansty Park, Coventry, to develop the new TX5 model, a zero emissions taxi, and other hybrid technology vehicles.

It has been supported by £16.1 million from the Department for Business, Energy and Industrial Strategy, through the Regional Growth Fund, which was awarded in 2015.

Business and Energy Secretary Greg Clark said: “Our iconic black cabs are famous across the world. The London Taxi Company’s impressive new factory and R&D facility showcases the innovation that makes the UK a world leader in the development of new automotive technologies.

“Through our ambitious Industrial Strategy, we are committed to building on our strengths and taking advantage of the opportunities the new low carbon economy provides.”

The Department for Transport is also announcing a further £64 million of investment to promote the use of electric taxis.

This money will support a £50 million Plug-in Taxi Grant programme.

This will give taxi drivers up to £7,500 off the price of a new vehicle. Taxi drivers who switch to the new electric cabs could also save around £2,800 in fuel costs a year.

It will also go towards a £14 million of investment which will deliver new dedicated charge points for electric taxis in 10 council areas.

Transport Minister John Hayes said: “This government is committed to improving air quality and reducing pollution in towns and cities, which is essential for people’s health and the environment.

“This is also great news for the economy as we invest in cutting edge technology and the next generation of transport and engineering professionals by creating thousands of new high-skilled jobs.”