A Geely TX5 black cab.[Photo provided to China Daily]

As well as accommodating six passenger seats and featuring improved driver legroom, the TX5 also heralds the return of the rear-hinged door to improve passenger access, Horbury said.

It has sufficient space for a forward facing wheelchair, helping to meet the travel needs of those with mobility issues.

The TX5 is also equipped with WiFi Internet capability and provides charging points for drivers and passengers in line with London's reputation as a hub for tech innovation and connectivity on-the-go.

And although the TX5 looks unmistakably like a familiar London taxi, each of the 3,000 components that make up the vehicle are new.

Johansen revealed that the TX5 will be launched in the UK at the end of 2017 and across international markets in 2018.

Geely announced at the event, it is making an additional 50 million pounds ($77.2 million) investment in its state-of-the-art greenfield production facility in Ansty, Warwickshire to turn the site into the group's UK research and development headquarters. This brings total investment in the new site to 300 million pounds.

"The investment is aimed to develop and produce the next generation London black cab, and expected generate up to 1,000 new jobs," said Li Shufu, the founder and chairman of Geely.

"This is testament to Geely's commitment to the UK and The London Taxi Company, and demonstrates our leading position on new energy technologies, our loyal and talented workforce and our competitive edge when it comes to delivering pioneering design and technology," Li said.

Ansty is the first new vehicle production facility to be built in the UK for more than 10 years. Breaking ground on the site took place in August and the new facility will begin trial production in 2016.

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

At 31,000 square meters, the Ansty facility will now be 50 percent larger than originally planned to accommodate the enhanced R&D center and additional technical facilities alongside the production line to build the new TX5.

The investment is expected to create around 500 additional jobs in the supply chain, Johansen said.

Li said that he and his company are happy to play a part in furthering China-UK relations by investing in the UK and strengthening business and ties between the two nations.