Tweet
I did a little digging on Google.
They screwed up and made large losses on an app that they tried to make the standard way call a cab in London in 2004. They sold the freehold from under their factory in 2004.
They didn't make a profit since 2007.
They are 20% owned by Chinese car makers Geely. Who bought Volvo. They produce this not Rolls-Royce copy.
How did they manage to make those alloy wheels look like cheap chromed plastic?
They have form by knocking off the Toyota Aygo.
In 2008 as part of the 2007 deal with Geely, LTI started importing major components from China, while Geely 'LTI Shanghai' locally produced the taxi there. They had lots of quality problems.
Apparently, the steering boxes that put lots of their cars off the road and damaged the company cashflow, after a previous multi-million pound 'accounting error', were made in China.
The London Public Carriage Office rules (now under To$$er Boris and not the Met Police), have been loosened to allow converted van cabs in London at about £20k each. LTI cabs are £35K.
Vince Cable has tried to get Geely to buy LTI from administration. It looks like Rover all over again. The Chinese have the important bits they wanted for very little. It looks like there will be a mickey mouse Longbridge style Chinglish screwdriver plant 'making' London Taxis.
So did they jump themselves or did Geely push them with deliberately poor steering boxes?
They screwed up and made large losses on an app that they tried to make the standard way call a cab in London in 2004. They sold the freehold from under their factory in 2004.
They didn't make a profit since 2007.
They are 20% owned by Chinese car makers Geely. Who bought Volvo. They produce this not Rolls-Royce copy.
How did they manage to make those alloy wheels look like cheap chromed plastic?They have form by knocking off the Toyota Aygo.
In 2008 as part of the 2007 deal with Geely, LTI started importing major components from China, while Geely 'LTI Shanghai' locally produced the taxi there. They had lots of quality problems.
Apparently, the steering boxes that put lots of their cars off the road and damaged the company cashflow, after a previous multi-million pound 'accounting error', were made in China.
The London Public Carriage Office rules (now under To$$er Boris and not the Met Police), have been loosened to allow converted van cabs in London at about £20k each. LTI cabs are £35K.
Vince Cable has tried to get Geely to buy LTI from administration. It looks like Rover all over again. The Chinese have the important bits they wanted for very little. It looks like there will be a mickey mouse Longbridge style Chinglish screwdriver plant 'making' London Taxis.
So did they jump themselves or did Geely push them with deliberately poor steering boxes?
Comment