February 27, 2013 by Joey Wang
Zhejiang Geely Holding Group plans to invest 100 million pounds ($151.4 million) in a global taxi project that the company expects will make Manganese Bronze Holdings – its newly acquired British taxi maker – profitable within a year, Geely’s management said.
“The acquisition won’t make Geely lose money in business,” Li Shufu said. “Manganese Bronze will regain profitability this year, much sooner than our previous perspective for three years.”
February 2, 2013 by Joey Wang
China’s privately owned automaker Zhejiang Geely Holding Group Co said on Friday that it has finalized the acquisition for 11.04 million pounds ($17.46 million) of Manganese Bronze Holdings, the maker of the iconic London black cabs. The acquisition includes a plant, equipment and property, intellectual property rights and trademarks, said Geely.
December 22, 2012 by Joey Wang
China’s privately owned automaker Zhejiang Geely Holding Group Co is reported to have submitted a bid to take a controlling interest in Manganese Bronze Holdings PLC, the maker of London’s iconic black cabs, which fell into administration in late October.
Geely, which made its name in the Western market by purchasing Swedish luxury car brand Volvo in 2010, is bidding for 80.03 percent of Manganese, Bloomberg reported on Thursday, citing anonymous sources.