Manganese Bronze Holdings LTI Limited as its only operating division. In October 2012, MBH entered administration, having not made a profit since 2007. The Chinese automotive manufacturer Geely, which already owned 20% of the shares in LTI Limited, the company's only business, agreed to purchase LTI's principal assets and trade from the administrator to save the business and continue the production of taxis in Coventry. The new holding company was named The London Taxi Corporation, and traded as "The London Taxi Company" (as LTI had done): this successor company was renamed to London EV Company in 2017. Manganese originally made ship propellers. In
TX4 is developed to rectify the fault, the financial position of the group remains unclear and trading in the company's shares will remain suspended." The company had not reported any profits since 2008. On 30 October 2012 Manganese Bronze Holdings went into administration, and on 31 October 2012 PricewaterhouseCoopers, the administrators, shed 156 jobs at the Coventry head office and production line, and other jobs at various dealer outlets around the country including London. Production at the Coventry site resumed in September 2013, ownership of the assets formerly owned by Manganese Bronze Holdings having now passed to a new company, The