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
Austin FX4 transmission and gradually fewer cabs with manual gearboxes were sold. The petrol engine was discontinued in 1973. In 1973, Carbodies' owner BSA, by now confronting imminent bankruptcy, was bought by Manganese Bronze Holdings, who were happy to continue making the FX4. Detail changes, such as burst-proof door locks and push-button door handles, safety steering and moulded rubber overriders (designed because the original tooling for the chrome overriders had worn out) were implemented. In 1982, Carbodies (who had been producing the FX4 for Austin and Mann & Overton) took over the cab's intellectual property rights when BL (Austin's parent company) lost