UK Electric Taxis: New cabs grab larger share of UK market

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The streets of London are marked by a new feature lately -- electric black cabs. The manufacturer is London Electric Vehicle Company, a subsidiary of Chinese car manufacturer Geely. The company claims it has grabbed a 10 percent share of the market in the UK capital since launching the cars 18 months ago. CGTN's Richard Bestic reports from London.

Pollution across London is expensive, running into the billions according to political leaders in the capital. Over two million people subjected to illegal levels of toxic air. The health impact in crisis, according to City Hall.

SHIRLEY RODRIGUEZ LONDON ENVIRONMENT MAYOR "No more polluting taxis, no more polluting vehicles will really reduce the pollution in London and reduce the health impacts that Londoners are facing."

With 13 million passengers on board so far and 21 million miles on the clock, London's new electric cab is already playing its part cutting pollution levels, according to the manufacturers LEVC, a subsidiary of the Chinese car-making giant Geely.

RICHARD BESTIC LONDON "No date yet for when the company will go into profit with its electric cab, so the business model is still clearly bedding in."

LEVC has plans to replicate the electric cab's London success across Europe and as far away as Hong Kong.

However, the company is highly dependent on the 'just in time' delivery of component parts in the manufacturing process.

The boss at the company, keeping a wary eye on the rising threat of a 'No Deal' Brexit creating parts shortages.

JOERG HOFFMAN CHIEF EXECUTIVE OF LEVC "The thing that would really hurt us a lot, not only us but the whole country would be a 'No Deal' Brexit. Without a deal, we will get in trouble. We can predict already that after a certain time we would have to close our factory because we would run out of parts after a while for sure."

Export potential could also suffer from a possible crash in the value of the Pound and new EU tariffs should there be a "No Deal" Brexit.

Britain's society of motor manufacturer says investment in the wider industry has fallen by more than 70 percent in the last six month.

For now though, London cabbies say the new electric taxi has brought a positive shine to their pay packets saving them an average of a $125 dollars a week in fuel compared to the old diesel cabs. Richard Bestic, CGTN, London.