(Yicai Global) Aug. 13 -- London Electric Vehicle, best known for making the British capital's renowned hackney cabs, has picked a Chinese parts maker to supply certain components for its new light commercial vehicle, the aptly named LCV.
Haiyuan New Material will furnish SMC parts for the vehicle, its Fujian-based parent Haiyuan Machinery said in a statement. The supplier, which didn't explain what SMC stands for, will start making molds for the parts soon and anticipates beginning mass production next year.
The LCV, designed by Emerald Automotive, will be built for European markets and features a hybrid power system tailored to the commercial logistics sector, the statement added. London Electic Vehicle, which is owned by Chinese auto giant and Volvo brand owner Geely, specializes in making new-energy commercial vehicles while maintaining the feel of London's cabs.
The statement did not divulge production details but disclosed that the deal will generate revenue of between CNY511 million (USD74 million) and CNY864 million over the next seven to 10 years.
Editor: James Boynton