London Taxi Company 24hr service is all set to open its new headquarter and production plant worth 300 million dollars in Rugby. The same got sanctioned in February 2015. This new state-of-the-art factory will be responsible for research, development and assembly of high-end electric cabs including advanced new age vehicles. It will also incorporate a streamlined supply chain team, sales and marketing and other administrative functions to support the rollout of new age cabs.
One of the major aims of this plant will be to manufacture and roll out zero-emission, green taxis by 2018.
LTC already has two existing plants- one in Coventry to cater to the market in UK and the sister factory to manufacture for the export markets. The new plant in Rugby is a major investment, which is expected to produce around 12,000 of high-end vehicles a year on a single shift system.
However, they will be moving out of the Coventry plant for this new development. They are expected to create a huge job pool of around 500 jobs initially with an estimation of 1000 jobs over the next five years of growth.
Local authorities supported the set-up as a step towards innovation and growth.