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
Production vehicle model with the same specifications. There is no fixed definition of the number of vehicles or the amount of modification allowed outside of motorsports or national regulations or laws that determine what is or is not a production vehicle. For example, Guinness recognises a modified 2-seat Jaguar XK120 as the world's fastest production car in 1949. In 2010 the "Guinness Book of Records" awarded the record for the ‘Fastest production car’ to the Bugatti Veyron Super Sport. In 2013 their decision was appealed on the ground that the Bugatti was a modified version - the limiter was turned off, a