Boris Johnson's announcing today that all new London taxis will need to have zero emissions from 2018. The Mayor will confirm his plan at a TFL event today where he will meet manufacturers developing the new taxis.
Once it is fully up and running, the production line in Coverntry will complete up to 10 new taxis a day, five days a week.
The first month's predicted production had already sold out with the company expecting to sell almost 2,000 vehicles in the first year. Around half of these will be for the overseas market after LTC won export contracts in Saudi Arabia and the United Arab Emirates.
- Geely plans to invest £150 million in LTC over the next five years
- The company says it has significantly improved LTC's manufacturing facilities in Coventry
- The upgrade will allow the firm to start making new TX4 models on its production line
The London Taxi Company has restarted production of the famous black cab, six months after the business was saved by Chinese car maker Geely.
Former owner Manganese Bronze, whose black taxis have been on British streets since 1948, went into administration last October, with about a third of its 300-strong workforce losing their jobs.
The future of the distinctive London taxi has been secured, after the makers of black cabs were bought out of administration. Manganese Bronze was financially struggling last year, and fell into administration after a technical fault meant hundreds of cabs had to be recalled.
Here's Charlotte Grant.
There'll be a 1.8% increase in fares during peak times - between 6am and 8pm Monday to Friday.
- For a 3 mile journey the fare will increase from £9.60 to £9.80
- For a 5 mile journey the fare will increase from £14.40 to £14.80
- For an 8 mile journey the fare will increase from £24.00 to £24.60
- For a 10 mile journey the fare will increase from £31.20 to £31.80
- For a 12 mile journey the fare will increase from £38.20 to £39.00
- For a 14 mile journey the fare will increase from £45.20 to £46.20
- For a 16 mile journey the fare will increase from £52.40 to £53.40
- For a 20 mile journey the fare will increase from £66.40 to £68.00
Passengers travelling from Heathrow Airport will reportedly be hit hardest by an increase in Black cab fares. A rise of 1.7% looks set to be approved by Transport for London from April 6. It's almost three times more than the rise in the cost of fuel. The increase follows a 5.3% rise last year
For those travelling to Heathrow - there will also be an 80p jump in the surcharge. TfL says the cost of an ''average'' fare, which is a journey of about 3.5 miles, will rise from £12.42 to £12.63. That will increase to £15.57 between 10pm and 6am.