London EV Company Limited, trading as LEVC, sold 725 vehicles in 2025, down from 1,792 in 2024, according to full accounts filed at Companies House on 8 September 2026.
Turnover fell to approximately £59.6 million for the year ended 31 December 2025, compared with around £88.2 million a year earlier. Despite the reduction in sales and revenue, the Coventry-based manufacturer’s operating loss narrowed to about £45.5 million, from approximately £156.6 million in 2024.
LEVC recorded a loss after tax of about £55.0 million in 2025. Its pre-tax loss was reported at approximately £61.7 million, compared with a prior-year loss after tax of roughly £179.5 million.
The accounts include around £3.9 million in redundancy and severance costs following a compulsory redundancy programme during 2025. Average employee numbers reduced from 395 in 2024 to 282 in 2025. Production and engineering staff averaged 130 employees, down from 249 in the preceding year.
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LEVC describes the current TX5 as being in the final stage of its product lifecycle and refers to a future new-generation TX vehicle. The company says it is working with the wider Geely group on platform strategy while planning for lower TX5 volumes.
LEVC expects to provide sufficient production to meet anticipated UK demand in 2026, while retaining flexibility for investment in later products and manufacturing capability. The accounts identify London as the company’s principal taxi market and cite declining licensed-driver numbers, high interest rates and wider market conditions as constraints.
The filing does not announce a launch date, price, technical specification or regulatory approval for a new taxi. A July 2025 LEVC announcement had already said output at its Ansty site would be reduced as the business focused on the next generation of the TX; the latest accounts provide a subsequent financial and strategic update.
The directors prepared the accounts on a going-concern basis. They state that Geely UK Limited has provided support extending to 31 December 2027. The accounts therefore set out the company’s current financial position and planning assumptions, rather than confirming that a replacement TX has entered production or been launched.
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