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‘MONITORING THE SITUATION CLOSELY’: TfL says it WILL act if London taxi vehicle supply becomes a problem
Transport for London (TfL) has said it would intervene if the supply of vehicles suitable for licensing as London taxis became a problem, amid trade concerns about the availability of new black cabs and uncertainty surrounding the timescales of LEVC’s next-generation model.
The transport authority said any driver who currently requires a zero emission capable taxi can obtain one. However, its response did not specify what action could be taken if vehicle availability deteriorates, or whether changes to licensing policy would be considered.
A TfL spokesperson said: “London’s taxis play a vital role in keeping the capital moving and we continue to work closely with the taxi trade and vehicle manufacturers. It’s important that London continues to have enough licensed taxis to meet customer demand and that drivers can access vehicles that meet the standards required to operate in the capital. If there was an issue with supply of vehicles we would take action. Any taxi driver who needs a zero emission capable taxi can access one.
“We’ll continue to engage closely with LEVC and representatives of the taxi trade, while monitoring the situation closely.”
The statement from London’s regulators follows growing scrutiny of the number of purpose-built taxis available to London drivers. New taxis entering service in the capital must satisfy TfL’s Conditions of Fitness, including accessibility requirements, the required turning circle and zero emission capable standards.
LEVC’s TX remains the principal new purpose-built electric taxi available to the London market. The Coventry-based manufacturer’s latest accounts indicate that the existing model is entering the final stage of its product lifecycle, while work continues on a new-generation TX vehicle.
The iconic black taxi manufacturer has said it is working with its parent company, Geely, on its future platform strategy ahead of upcoming TX models and a planned reduction in current-model production volumes. However, a firm launch date, final specification and confirmed production timetable for the next taxi have not been publicly detailed.
Talk of a new model is significant because London’s taxi licensing rules limit the range of vehicles that can enter the fleet. Any extended gap between the end of current production and the arrival of a compliant successor could restrict drivers’ purchasing options and place further pressure on the second-hand taxi market.
Questions over LEVC’s financial position have added to the uncertainty. The manufacturer reported turnover of £59.6million for 2025, down from £88.1million in 2024, as annual vehicle sales fell from 1,792 to 725.
LEVC recorded a loss of approximately £55million for the year, although this was substantially lower than the £179.5million loss reported for 2024. Its accounts also said the business remained dependent on financial support from its parent company to continue operating as a going concern.
The company subsequently received two short-term loans from Geely totalling £90million, which were used to repay existing debts to Santander and BNP Paribas. The repayment deadlines attached to the facilities have intensified interest in LEVC’s funding requirements and the investment needed to deliver its next taxi.
For drivers, the immediate issue is whether suitable taxis will remain available while LEVC moves towards its next product. TfL’s position is that the current market can meet demand, but the authority has now publicly committed to acting if supply becomes insufficient.
