Investment from Chinese firm Red Sun Group has been made to help fund the production of the new electric Metrocab in Coventry.
Red Sun Group has committed over £100m in funding for CAD CAM Automotive which currently produces the lightweight body parts for Jaguar Land Rover.
The Metrocab is an electric taxi with an internal combustion engine powering a generator, much like the LEVC TX eCity. However, the Metrocab has one added trick up its sleeve, the engine charges the battery and provides energy directly to the electric motors whilst in motion.
The Chinese investment group wish to provide the facilities for what is seen as a growing electric commercial vehicle market, starting with the full production of the eagerly awaited Metrocab.
The factory will join other taxi manufacturers LEVC and fellow newcomers to the market Dynamo in Coventry.
According to Inside Media Martyn Wheeler, CCA managing director, said: "This investment is not only a testament to the quality of our company’s employees and their output, but further proof that the automotive production business is thriving in the Midlands and especially in Coventry."