As well as extra investment, Geely has contributed the ability to sell the black cabs to other international markets, such as Australia and Azerbaijan, Barber says.

"Previously, the company was too inward-focused, mainly relying on the London market, and Geely's contribution helped us to change that," he says.

The launch of Geely's TX5 electric taxi comes at a time when the British government is investing heavily in greening the capital. New policies mean all taxis made from January 2018 and used in London must be capable of zero emissions.

In addition, the UK's Department of Transport is investing ￡64 million in promoting the use of electric taxis, which includes a ￡50 million Plug-in Taxi Grant program, with subsidies of up to ￡7,500 off the purchase price of a new vehicle, and a ￡14 million investment for new dedicated charging points for electric taxis in 10 council areas.

With a lightweight aluminum body, composite paneling, a range-extending battery-electric propulsion system and a small gasoline engine that is used as a generator, the black cabs can be driven for a day without needing to be recharged.

Manufacturing is done entirely at LTC's factory in Coventry, while the design work was carried out at Geely's design center in Barcelona, Spain.

Geely's success comes at a time when surging Chinese automotive companies are tapping into the UK's electric vehicle market for research and sales.

Last year, BYD rolled out 51 all-electric buses in London, Europe's largest fleet of pure electric buses. It is estimated that the fleet will reduce London's CO2 emissions by 700 metric tons a year. Meanwhile, Changan Automobile is carrying out electric car research from its R&D center in Birmingham and FAW Group is conducting electric car research in partnership with the University of Nottingham.

Despite the rosy picture that Geely paints for electric taxis, profit margins could be threatened by Brexit, which may lead to taxes on UK exports to Europe, says Felipe Munoz, global automotive analyst at JATO.

Munoz says increasingly strict regulation of emissions globally could create an international demand for LTC's electric taxis but emerging technology, such as self-driving cars and the growing popularity of Uber, will have an impact on the taxi market.

"It seems the new electric London cabs from Geely don't consider these trends," Munoz says.

But London Taxi Co remains optimistic that its legacy as an iconic brand will help it withstand future challenges.

"It's so well-known and well-loved, and visitors from all around the world come to London to see these iconic vehicles. It is hard for other businesses to replace the role black cabs play," Barber says.

cecily.liu@mail.chinadailyuk.com