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
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