Geely Automobile Holdings (0175.HK), which is preparing to assume control over Volvo Cars from Ford Motor Company (F.NYSE), may also be readying a bid to take control of Maganese Bronze (MNGS.LSE), which makes the iconic black cabs of London, Bloomberg reported. According to Manganese Bronze Holdings Finance Director Mark Fryer, Geely may increase its stake to 51% from 19.9% by purchasing new shares. In a statement yesterday, Manganese Bronze also said that parts for its TX4 series of vehicles will now be made in Shanghai, eliminating 60 positions at its Coventry plant. "Our future will be both as a manufacturer of black cabs in Coventry, although more of the parts will be coming from China, and an assembler and distributor for Geely vehicles," said Fryer.
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