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.
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._
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.