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
Rapid Motor Vehicle Company Rapid Motor Vehicle Company The Rapid Motor Vehicle Company was founded in 1902 in Pontiac, Michigan, by brothers Max Grabowsky and Morris Grabowsky. They went on to build one-ton trucks and were the beginning of GMC Truck division after they were acquired by General Motors in 1909. In 1905, Albert North and Harry Hamilton from the Pontiac Spring & Wagon Works (PS&WW) built the first Pontiac automobile and also acquired control of the Rapid Motor Vehicle Company from the Grabowsky brothers. Both became key forces in the operations of the company. Under their direction, the establishment produced many different styles