With all the hubbub over Volvo, it’s easy to forget that Geely already owns a foreign carmaker: Managnese Bronze, the company that makes London’s iconic black-cabs. Well, Geely doesn’t “own” Maganese, they hold a 19.97 percent share. That is about to change.
Geely and Manganese Bronze are talking about Geely taking a majority stake in Manganese and to move production to China. John Russell, CEO of Manganese Bronze says they could be just weeks away from striking a deal with Geely. “We’d hope to update the market in the very near future. It’s never done until its done but we remain very optimistic that we’re going to get a good outcome,” Russell said to Reuters.
Geely has an offer letter from Manganese Bronze to purchase 20 million shares, which would increase Geely’s shares in the company to 51.68 percent. Manganese can use the money. They are operating at a loss.
UK companies.
The last truly British export.
Funny, that could be said of America as well.
UK PWNED
Does that mean there’s a chance that the Chinese could possibly bring back the Norton Rotary or Commando? Or maybe the BSA Lightning?
This is the problem the US is facing in a microcosm.
Formerly, thousands of people were employed building this vehicle so fellow citizens could ride in them around London. The company building these likely had no problem attracting workers. So now, instead of a product used within the country providing utility and employment, it provides only utility, with no other employment attractively waiting for the displaced workers.
It’s a dead end for countries to do this, but quite lucrative for the ownership class.
Uh, What’s the taxi cab maker? You spelled the name 3 ways in the first 4 sentences. Seriously, taking 45 seconds to proof your article might be a good idea.
Manganese…most people don’t even know what that is.
Given the on-going effort of industrial and political data gathering by the Chinese, the UK authorities will scan the Chinese-built taxis for eavesdropping devices, correct?
Say whatever you want. This is called Karma. You should have never burnt down the Old Summer Palace in China.
Say whatever you want. This is called Karma. You should have never burnt down the Old Summer Palace in China.
Ya that brings back old war wounds before my time ~ 200 yrs ago, the 8 Nations joined force, none the less their unspeakable atrocities is nothing compare to the Rape of Nanking. Perhaps that could be the bad karma for the Land of rising Sun facing each day now.
Does that mean there’s a chance that the Chinese could possibly bring back the Norton Rotary or Commando? Or maybe the BSA Lightning?
The old pre war BMW bikes were still being made or copied in Middle Kingdom, not long ago in Richmond BC ,I saw a real pristine copy of these with side car complete with Chinese Military colour & a lone red Star.
I talked to some folks who had a Russian built BMW too, somehow a lic to build them were granted to the Ruskies.