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 Manganese originally made ship propellers.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
Manganese Bronze Holdings the first prototype TX4 taxi at its Chinese joint venture, LTI Shanghai. In July 2008 Manganese announced that it would be making redundant 40 employees as a result of the global economic downturn. On 29 June 2009 the company advised that Geely had a notifiable interest in 6,085,000 of the company's ordinary shares, representing 19.971% of the issued ordinary share capital. In March 2010 it was announced that Manganese would move the production of all taxicab bodies and chassis to Shanghai, but TX4 cabs for the UK market would continue to be assembled in Coventry. In the same month it