The maker of London's black cabs, Manganese Bronze are reportedly planning to double their work force.
It's after the Coventry-based company was saved from administration at the end of February when the Chinese car manufacturer, Zhejiang Geely, bought it. Since the buy out, plans have emerged to employ another 100 people.
Geely already owned 20% of the company when it invested in 2006, however, when the company went into administration in October last year, the foreign car maker bought the company and its assets for £11.4m. It saved 107 jobs.
156 workers lost their jobs across the business when it went into administration.
Reports also suggest the back cab maker could start to produce a brand new model which would roll off the assembly line by June of this year.
Secretary of State for Business, Innovation and Skills, Vince Cable, has welcomed the purchase of Coventry-based Manganese Bronze, the maker of London's iconic black taxi.
– Vince Cable, Secretary of State for Business, Innovation and Skills
It's only right that the iconic black cabs will be produced in the UK. I'm pleased that workers in the Coventry factory will keep their jobs, thanks to everyone who worked so hard to make this happen.
"I look forward to hearing more from Geely about its pledge to continue production in the West Midlands and opportunities for its supply chain in the UK.
– Boris Johnson, the Mayor of London
I am delighted that Geely has successfully secured the future of the London Taxi Company, ensuring the continuing manufacture of a world famous, fully accessible and instantly recognisable vehicle synonymous with London. London's cabbies can now look to the future safe in the knowledge that the TX model taxi will continue to serve Londoners for many years to come and I look forward to hearing Geely's proposals for producing an ultra low emission taxi to serve London in the near future._
Geely says they will seek to re-establish the manufacture, sale and servicing of vehicles on the same basis as existed before Manganese Bronze went into administration.
The company says they will seek to develop new models to follow the current TX4 version.
A leading Chinese automobile manufacturer has bought Coventry-based Manganese Bronze, the makers of London's iconic black taxi.
Zejiang Geely Holding Group (Geely) purchased the group for £11.04m, in agreement with Pricewaterhouse Coopers, who were appointed their administrators.
Geely says it would continue to assemble the TX4 model at Manganese Broze's plant in Coventry
Britain's largest union, Unite, has written to the Prime Minister urging him to save the maker of the black cab.
Just under a hundred people have been made redundant from Manganese Bronze's site in Coventry, where the famous cab is made, after the firm went into administration in October.
There's concern over potential buyers which could move manufacturing abroad. This has prompted Unite to start a campaign to ensure the vehicle is built in Britain.
A protest by workers made redundant from the Coventry-based London Taxi Company is taking place in London and Liverpool today.
100 people lost their jobs earlier this month when Manganese Bronze went into administration. UNITE say there's been interest from several parties in buying the company, but they want assurance that jobs will remain in the UK.
Black cab taxi drivers in London will join a rally in support of the union who want the jobs to remain in the UK today.
Tony Burke, Deputy General Secretary, UNITE, explains what the workers hope to achieve.