England's Manganese Bronze Holdings, the company that manufactures London's iconic black taxis, has been faltering as of late. The decrease in revenue is due largely to the fact that the black cabs are, at this point, horrible out of date, technologically. They're inefficient and responsible for a lot of carbon emissions, which are taxable in the UK.
Now Geely, the Chinese automaker that currently owns Volvo, has swooped in and acquired MBI in a deal that ensures that production will remain in England. Hopefully, Geely can update the running gear of the classic cabs without changing the aesthetics. We'd rather see this than a London that's full of Nissan minivans.