The London Taxi Company, which manufactures London's world famous black cab, has re-launched as the London EV (Electric Vehicle) Company, or LEVC.
In an announcement on Tuesday, the business released details of the final version of the new London Taxi, an electric vehicle called the TX.
LEVC said the vehicle's technology included an advanced battery electric powertrain with a small petrol generator, giving the vehicle a range of more than 400 miles, including "well over" 70 miles with zero emissions.
The LEVC is a wholly-owned subsidiary of Chinese business Geely, which also owns the Volvo Car Group.
"From our heritage as the manufacturer of the iconic London Taxi, we have unparalleled insight into the needs of commercial operators," Chris Gubbey, chief executive officer of LEVC, said in a statement.
"Drawing on the best of British design and engineering as well as technical expertise from our sister company Volvo, our products will help transform city living and provide taxi drivers with an average weekly fuel saving of £100 compared with our outgoing diesel model," he added.
The new TX is set to launch in London later this year. The issue of air pollution in London has become a significant topic of debate and the city's mayor, Sadiq Khan, has said that "cleaning up London's toxic air is now an issue of life and death."
In January, Khan issued a "Very High" air pollution alert. Londoners were advised to cut physical exertion outdoors, and air quality alerts were displayed at 2,500 bus countdown and river pier signs.
For his part, the LEVC's Gubbey said a step change was just around the corner.
"London has led the way in setting out tough measures to reduce taxi and van emissions and in just a few short years we expect EVs for the commercial operator will not just become commonplace, but mandatory in cities around the world, creating huge opportunities for LEVC globally."