Chinese owner Geely has lent London Electric Vehicle Company £90m to clear bank debts as the black-cab maker’s Coventry-area plant faces an uncertain product transition.
The Telegraph reports a £50m loan repaid Santander and £40m repaid BNP Paribas, both due mid-2027, on top of other Geely facilities. Companies House accounts for 2025 show turnover down to £55.9m from £88.1m, only 725 vehicles sold (from 1,272), and a £61.8m annual loss. LEVC says the TX5 is ending its lifecycle and the all-electric TX6 is in development, with timing and future use of the Ansty factory uncertain. Geely has given support assurances at least to end-2027; LEVC says more than £1bn has been invested and a next-generation taxi is coming.