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 Production Group in October 2011 and was delivered to disabled former American football player Marc Buoniconti, who was a company spokesperson. Developed from the Standard Taxi, it was a more advanced and user-friendly vehicle than its predecessor. The MV-1 was the first production-made purpose-built vehicle in North America constructed from the ground up for people with disabilities. It seats up to six adults, with two full-size wheelchairs. Chairs are allowed entry via an ADA-approved ramp, able to carry and which stows under the vehicle's floor. The rear doors are 36 inches wide and 56 inches tall, to accommodate bulky wheelchairs. On 21