Zhejiang Geely Holding Group announced it will invest $151.7 million by 2018 in Manganese Bronze Holdings, the maker of London black cabs, to turn the company profitable.
The investment plan was announced by Chairman Li Shufu, who said that he sees Manganese Bronze exporting the famous black cabs to other countries too. Manganese Bronze entered administration in 2012, for 11.04 million pounds on a debt-free basis, and Zhejiang Geely agreed to buy the company and make it profitable again.
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