Coventry LTI Procure new £44M Deal
Tuesday, March 15, 2016
In March 2016 the London Taxi Company (LTC) signed a new 10-year distribution agreement worth more than £44 million with the newly-formed London Taxi (Aust) Limited.
The deal will grant London Taxi (Aust) Limited exclusive rights to sell and distribute LTC’s iconic London taxis throughout Australia and New Zealand. Australia alone currently has more than 21,000 licensed taxis on the road. The contract includes a minimum order of 1000 vehicles over the first five years of a 10-year agreement.
LTC’s Coventry facility will produce the first order of 200 TX4 taxis during 2016, before they are distributed across major cities in Australia.
- London Taxi Company sets up 10-year distribution agreement in Australia
- At least 1000 vehicles will be supplied in the first five years
- Distribution deal covers all major cities in Australia and New Zealand
The deal brings more positive news for the Coventry based manufacturer at a time when it’s investing £300m in product development and in the creation of a brand new research, development and production facility on Ansty Park, Coventry.
Source: LTI Website