Ni Hao, Guv'nor: London Taxi Moving To China

Bertel Schmitt
by Bertel Schmitt

With all the hubbub over Volvo, it’s easy to forget that Geely already owns a foreign carmaker: Managnese Bronze, the company that makes London’s iconic black-cabs. Well, Geely doesn’t “own” Maganese, they hold a 19.97 percent share. That is about to change.

Geely and Manganese Bronze are talking about Geely taking a majority stake in Manganese and to move production to China. John Russell, CEO of Manganese Bronze says they could be just weeks away from striking a deal with Geely. “We’d hope to update the market in the very near future. It’s never done until its done but we remain very optimistic that we’re going to get a good outcome,” Russell said to Reuters.

Geely has an offer letter from Manganese Bronze to purchase 20 million shares, which would increase Geely’s shares in the company to 51.68 percent. Manganese can use the money. They are operating at a loss.

Bertel Schmitt
Bertel Schmitt

Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.

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  • MaxHedrm MaxHedrm on Aug 02, 2010

    Uh, What's the taxi cab maker? You spelled the name 3 ways in the first 4 sentences. Seriously, taking 45 seconds to proof your article might be a good idea.

  • FleetofWheel FleetofWheel on Aug 02, 2010

    Given the on-going effort of industrial and political data gathering by the Chinese, the UK authorities will scan the Chinese-built taxis for eavesdropping devices, correct?

  • GhentForever GhentForever on Aug 02, 2010

    Say whatever you want. This is called Karma. You should have never burnt down the Old Summer Palace in China.

  • Blowfish Blowfish on Aug 13, 2010

    Say whatever you want. This is called Karma. You should have never burnt down the Old Summer Palace in China. Ya that brings back old war wounds before my time ~ 200 yrs ago, the 8 Nations joined force, none the less their unspeakable atrocities is nothing compare to the Rape of Nanking. Perhaps that could be the bad karma for the Land of rising Sun facing each day now. Does that mean there’s a chance that the Chinese could possibly bring back the Norton Rotary or Commando? Or maybe the BSA Lightning? The old pre war BMW bikes were still being made or copied in Middle Kingdom, not long ago in Richmond BC ,I saw a real pristine copy of these with side car complete with Chinese Military colour & a lone red Star. I talked to some folks who had a Russian built BMW too, somehow a lic to build them were granted to the Ruskies.

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