Manganese Bronze Holdings to be made redundant with immediate effect, out of the company's then total of 274 employees in the country, with the losses spread across its manufacturing facility, head office and dealerships. In January 2013, it was reported that Geely was in negotiations to buy the remaining shares of the company from PwC to save the business. A press statement in February 2013 announced that an agreement had been reached for Geely to purchase the remainder of the London Taxi Company's assets, manufacturing rights, unsold stock and dealerships. Geely set up a new company, The London Taxi Corporation Ltd. under its
Chavdar (company) closed in 1999. In 1924 Racho Valkov Djambov (1894-1983) opened an iron workshop in Botevgrad, Bulgaria. In 1927, Racho met with Ivan Valkov who had a transport business using rebuilt ambulances. He gave Racho one platform from Fiat to built his first vehicle on. After World War II, Bulgaria was ruled by a communist government and Djambov's workshop was nationalized. The new company was named Chavdar and by 1948 it had started producing buses based on Škoda RTO. Until 1956 the production of the company increased by 150%. In 1962, the company started production of the models M65 and M66