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
Vehicle registration plates of the United Kingdom January 1973 shall be treated as if it was first registered before that date if it was constructed before 1 January 1973. However, the Finance Bill 2014 and subsequent Finance Acts extended the Historic Vehicle class cut-off year from 1973 to 1974 and subsequently, a rolling forty years. This had the effect of linking eligibility to display old-style plates with 'Tax Exempt' vehicle status. It follows that the older style plates are now available for any vehicle constructed 40 or more years ago, provided that an application has been made to the DVLA to have the vehicle included in the