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
Vehicle Production Group signed with South Bend, Indiana-based AM General to build the Standard Taxi taxicabs, beginning in 2009. Through market feedback, VPG developed a more advanced and user-friendly vehicle known as the MV-1 to replace the Standard Taxi, which never entered series production. Specs The MV-1 was a purpose-built taxicab designed by Vehicle Production Group and built in Mishawaka, Indiana at an AM General plant The name is an acronym for "Mobility Vehicle 1". It was intended to replace the planned Standard Taxi, and like that car it was developed in collaboration with AM General. The first MV-1 rolled off the line