The new model is set to go on sale in the UK from 2017, one year before plans kick in for all taxis in the Capital to be zero emission, and will go on sale internationally in 2018.

Although the TX5 retains the London Taxi styling, the new model incorporates a range-extended battery electric set-up. It also marks the return of the rear-hinged door to improve passenger access and, for the first time on a Black Cab, a panoramic glass roof. The TX5 is also equipped with WiFi internet capability and provides charging points for drivers and passengers.

Peter Johansen, CEO of The London Taxi Company said: “We are hugely excited to be unveiling the TX5 prototype design for the first time and in such high company. The new vehicle has a wealth of new features, which will all be tried and tested and then tested again to provide a perfect balance of timeless design driven by ground-breaking technology.”

LTC’s parent company, Chinese automotive manufacturer Zhejiang Geely Holding Group, also announced its intention to invest an additional £50m in its greenfield production facility in Ansty, Warwickshire, to turn the site into the group’s UK R&D headquarters. This will bring total investment in the new site to £300m.

At 31,000 square metres, the Ansty facility will now be 50% larger than originally planned to accommodate the enhanced R&D centre and additional technical facilities alongside the production line to build the new TX5. In addition there will 6,000 square meters of office space.

The new Ansty site will work on nine potential product variants, including light commercial vehicles that could be developed for LTC and the Geely group.