London black-cab maker LEVC slashed its pre-tax loss by more than £100m in 2025 while cutting nearly half its workforce and winding down TX5 production.
Insider Media reports a £61.7m pre-tax loss against £179.4m in 2024, with turnover down from £88.1m to £59.5m on 725 sales. Headcount fell from 336 at the start of the period to 182 by year-end (45%), including a July 2025 compulsory redundancy programme. LEVC says it hit sales targets despite a slow market and fewer London drivers, and is aligning for Geely’s next-generation TX while limiting 2026 TX5 work to final assembly. The Plug-in Taxi Grant ends 5 April 2026; 2026 London demand is forecast weaker still.