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 Manganese originally made ship propellers.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 innovative taxi hailing system using mobile location technology. This was sold to Computer Cab in November 2004 for £1. This was to stem large losses because only 1,100 of London's approximately 21,000 taxi drivers subscribed. Between July 2003 and November 2004 Manganese also sold its property portfolio, including the land under its Coventry manufacturing facility. In October 2006 Manganese and the Chinese automaker Geely announced the creation of a China-based taxicab manufacturing joint venture. An extraordinary general meeting held in January 2007 of Manganese's shareholders approved the formation of the joint venture. In June 2008 Manganese announced the production of