Geely to move LTI to bigger Coventry factory creating 1000 jobs

http://www.bbc.co.uk/news/uk-england-coventry-warwickshire-32063233

A £250m new taxi plant is to be built outside Coventry, creating up to 1,000 new jobs.
The plans have been revealed by the owner of the London Taxi Company (LTC), which makes the iconic black cab.
Chinese manufacturer Geely said the new factory would include research and development and an assembly plant to build the next generation of electric and low-emission vehicles.
The first cars are expected to be made at the Ansty Park site in 2017.
It is thought to be the biggest investment of its type by a Chinese company in the UK and was backed with funding from the government's Regional Growth Fund.

China’s Zhejiang Geely Holding Group said on Thursday it will build a new car plant in Coventry, England, that will enable it to ramp up production of the famously boxy rides. The plant will be able to produce up to 36,000 vehicles a year, a tenfold increase from its current facility also in Coventry, the company said.

(my bold)
http://www.bdlive.co.za/world/asia/2015/03/26/geely-revs-up-london-black-cab-investment

Li Shufu, chairman of Geely, said his company’s decision reflects “the importance of Britain as an inward investment destination for Chinese companies”.
“Britain’s attractions as a centre for automotive production, flexible supply base, skilled workers and access to the European single market have already made the country a hub for vehicle production,” Mr Li said. “That is why Japan’s three largest car makers, along with GM, Ford and BMW, have assembled cars and engines here for many years.”

 This article also mentions £400m invested in JLR as well as the £250m in LTI...

The bulk of Jaguar Land Rover’s spending is on a £320m aluminium body shop at its Castle Bromwich plant. This will be the largest single investment in the site’s history and backs up the launch of the new version of the company’s XF model.
The remainder of the money will fund the purchase of 62 acres at its research and development base in Whitley – south of Coventry – more than doubling the facility’s size, new production machinery and the company’s investment as a partner in the National Automotive Innovation Centre.
The injection is the latest part of £3bn of investment in new facilities and technology this year as Jaguar Land Rover grows under its Indian owners, who bought the then struggling marque from Ford in 2008 for £1.3bn.
In its last full financial year JLR had revenues of £19.4bn and a post-tax profit of £1.9bn, with sales of 434,000 vehicles.

http://www.telegraph.co.uk/finance/newsbysector/industry/engineering/11495662/Britains-motor-industry-gets-650m-boost.html

A huge vote of confidence in Britain by Geely and Tata. Both companies have put SAIC's efforts at Longbridge to shame.