‘MONOPOLISED’: Leading taxi industry names meet to discuss plan for alternative viable EV black cab
Updated: Feb 11, 2023
Some of the leading names in taxi innovation met to discuss plans on how to bring new electric taxi manufacturers into the ‘monopolised’ taxi market.
Since the departure of Dynamo Motors in 2022 there is only one black cab manufacturer and model, the LEVC TX, that passes strict London regulations.
In December 2022 the cash price of a LEVC TX Vista Comfort sat at £63,805. That price includes a £7,500 Government ‘Plug-in Taxi Grant’ which runs until April 2024. After that date, an extension has not been confirmed, and could push the cash price of a taxi through the £70,000 barrier for the first time in its history.
Most taxi drivers also require finance to invest in a new ZEC black cab. With interest rates still rising fast, the total cost of a new taxi with a small deposit can be upwards of £90,000 all in.
There are currently just 14,999 black cabs licensed in the capital. In April 2020, just a month into coronavirus lockdowns, the taxi fleet stood 20 percent higher at 18,341.
Low demand for taxis during strict coronavirus social restrictions saw the taxi fleet shrink. Many drivers left the industry completely due to a lack of sufficient financial support from local authorities and Government.
Demand for taxis in the capital has bounced back in 2022, but the number of taxi drivers licensed continues to fall. High vehicle and operating costs are pushing many away and also failing to attract new applicants to the role.
Asher Moses, CEO Sherbet, said on social media: “With the price of electric taxis going through the roof and the market monopolised, it is vitally important to bring on board other vehicle manufacturers to supply vehicles to the licensed London taxi trade.
“Today we pulled together a meeting with the heads of industry on how to bring alternative vehicles into the both London market and international taxi market.
“With heads together such as Jevon Thurston-Thorpe and Roy McMaster from Penso, Jevon was instrumental to the design of the TX1 and Roy put together the Mercedes conversion, along side all that joined us from The Stellantis Group Brad Miller, Zena Allert, Richard Chamberlain, and Scott Finding, it's a very exciting time!
“Watch this space.”
