LONDON (Reuters) - Chinese investment into low carbon London black cabs and a deal involving luxury sports carmaker Aston Martin are part of a series of business announcements on Wednesday during the state visit by China’s president to London.
The deals come on the second full day of Xi Jinping’s stay as Britain seeks to clinch contracts worth $46 billion.
UK Trade and Investment, a body designed to encourage inward foreign investment into Britain, said a number of deals involving low carbon technology would be done.
Aston Martin, famous for making the DB5 sports car driven by fictional secret agent James Bond, will sign a deal worth 50 million pounds with China Equity - which makes venture capital and private equity investments - to develop its electric Rapide sports car.
The carmaker, which currently builds conventional sports cars, is planning to expand both its model line-up and use new technologies as part of a strategy to boost volumes and return to profitability.
Chinese carmaker Geely [GEELY.UL] 0175.HK, which owns the London Taxi Company, will also invest a further 50 million pounds to enhance its research capabilities and launch a new fleet of zero-emission-capable black cabs.
Reporting By Costas Pitas, editing by David Evans