LEVC, THE GEELY-owned manufacturer of the electrified London taxi, has cut 140 jobs in a cost-cutting drive.
LEVC has announced a restructuring package that it says will “lay the foundations for its sustainable profitability and growth”. It sold 1620 vehicles and posted pre-tax losses of £118 million last year, compared with a £38m loss in pandemic-blighted 2020. Job cuts will be made on a voluntary redundancy basis.