AOL.com Video - Black Taxi Sale to China 'Symbolic'

VIDEO:News

Black Taxi Sale to China 'Symbolic'

Description:The Coventry based black taxi manufacturer LTI has been sold to the Chinese car maker Geely for £11.4m. LTI went into administration in October with 99 out of its 176 staff losing their jobs. David Bailey, from Coventry University Business School, welcomed the news, but said significant investment was needed to give the brand a long-term future. (1:55)

Source: BBC News

Tags: bbc news , BBC Worldwide , administration , bailey