LTC hails £44m taxi deal for Australia and New Zealand

COVENTRY-based London Taxi Company has signed a 10-year distribution deal worth more than £44m that will see its iconic black cabs take to the streets of Australia and New Zealand’s biggest cities.

The new deal grants London Taxi (Aust) Ltd exclusive rights to sell and distribute LTC’s vehicles throughout Australia and New Zealand.

Australia alone currently has more than 21,000 licensed taxis on the road. The contract includes a minimum order of 1,000 vehicles over the first five years of a 10-year agreement.

LTC’s Coventry facility will produce the first order of 200 TX4 taxis during 2016, before they are distributed across major cities in Australia.

Commenting on the deal, Peter Johansen, LTC CEO, said: “Our vision is to see our iconic London taxis on the streets of all major cities around the world, and this agreement is another huge step forwards towards that goal.

“We have enjoyed a good relationship with our outgoing Australian distributors who have helped us to open up the Australian market and we wish them well. We now look forward to working with the new owners of London Taxi (Aust) Ltd in the coming years as we build up the London taxi brand in cities across Australia and New Zealand.”

There are already 100 TX4s in Perth, Western Australia, which has proven to be a receptive market for LTC’s products.

London Taxi (Aust) is a new venture, owned by Elgan Potter and Ross Prendergast.
Commenting on the deal, Mr Potter, co-owner of the firm, said: “Nothing symbolises a high quality professional taxi service like the London taxi, and so we’re delighted to have signed a new 10-year distribution agreement that will deliver hundreds of new TX4s into Australia and New Zealand over the coming years.

“LTC is an ambitious company with exciting future plans which bodes well for our future business development. Together, we look forward to raising standards in the taxi industry in Australia.”

The deal brings more positive news for the Coventry based manufacturer at a time when it is investing £300m in product development and in the creation of a brand new research, development and production facility on Ansty Park.