Thanks to China.
Some of the signature sights during a typical cruise around London include the famous Big Ben clock tower, bright red double-decker buses, plenty of exotic cars and, of course, the quintessentially British classic TX4 black taxicabs. However, those famous taxis that have become so characteristic of the British capital are about to undergo a big change. That's because The London Taxi Company is now owned by Chinese manufacturer Geely, and the company just unveiled a new TX5 taxicab that will be seen swarming all over the UK by 2017.
The Chinese company plans to invest $460 million in the United Kingdom and will build a 3,600,000-square foot factory in Warwickshire to produce a massive fleet of the zero-emission capable taxis. The TX5 looks incredibly retro, but modern and can seat up to six passengers. It runs on a plug-in hybrid motor with a range of 30 miles when running purely on electricity. Chinese President Xi Jinping, accompanied by the Duke and Duchess of Cambridge, recently paid a visit to London to check out the unveiling of a TX5 prototype on a typical rainy day in London.