Manganese Bronze Holdings was reported that Geely would increase its shareholding in Manganese to 51% through participation in a placing of new shares. In August 2010 it was announced that Geely had decided not to proceed with the share placement and its shareholding in Manganeze would remain at just under 20%. In November 2010, LTI changed their trading name to "The London Taxi Company" to reflect the company's core business. Manganese entered administration on 22 October 2012 after failing to secure additional funding; PricewaterhouseCoopers (PwC) were appointed as the administrator. On 31 October PwC announced that 156 Manganese staff in the UK were
Rapid Motor Vehicle Company Rapid Motor Vehicle Company The Rapid Motor Vehicle Company was founded in 1902 in Pontiac, Michigan, by brothers Max Grabowsky and Morris Grabowsky. They went on to build one-ton trucks and were the beginning of GMC Truck division after they were acquired by General Motors in 1909. In 1905, Albert North and Harry Hamilton from the Pontiac Spring & Wagon Works (PS&WW) built the first Pontiac automobile and also acquired control of the Rapid Motor Vehicle Company from the Grabowsky brothers. Both became key forces in the operations of the company. Under their direction, the establishment produced many different styles