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
Detroit Auto Vehicle Company Detroit Auto Vehicle Company Detroit Auto Vehicle Company was a short-lived early automobile manufacturer established in the summer of 1904 with a capital stock of US$150,000. Based in Detroit in the old Detroit Novelty Machine Company building, it also had a foundry in Romeo, Michigan. It ceased operation in October 1907 following bankruptcy. The company was fighting during the short time of its existence against litigation by stockholders of the predecessor company Detroit Novelty Machine Company, who were decidedly against the production of an automobile. Finally, the company went into bankruptcy in 1907. In 1908 bond holders in the bankrupt