Geely bought Manganese, the manufacturer of London taxis

Chinese carmaker Geely announced Friday it had bought the company that makes the famous London taxis.

Geely is already owner of the Swedish manufacturer Volvo.

Chinese company says have purchased Manganese Bronze Holdings, which is in bankruptcy, for $ 17.5 million. It already held a 20 per cent Manganese before the bankruptcy.

Geely is one of the ambitious Chinese companies who buy technology and foreign brands to accelerate their development.

Geely indicates that the production and service of Manganese resume essentially as they existed before the bankruptcy.

This includes the manufacture of black cabs TX4 at the factory in Coventry, UK.