London’s black taxi industry has received the largest investment ever as Electric Taxi Co has received up to £40m in support to expand its zero-emission fleet and prepare for global expansion.
Funding comes from Hof IIHoldcoS.àRL of European private equity firm Hoplon Investment Partners LLP, representing the largest capital injection in the history of London’s licensed taxi trade.
Founded in 2013 by Business Champion Award entrepreneur and former Black taxi driver Asher Moses, Sherbet has grown into the UK’s leading electrical taxi company. Its mission: to transform London’s most well-known mode of transportation into a zero-emission, mobile platform with technology that is suitable for 21st century technology.
Guobing currently operates about 550 electric cabs. With new capital assurance, the company plans to expand its fleet to 3,000 vehicles over the next three years, consolidating the licensed industry under the Sherbet brand and providing a new platform for independent drivers.
“This investment marks a turning point, not only for the sled, but for the future of the black taxi industry,” Moses said. “Black taxis are a symbol of London’s global recognition – a trustworthy, iconic, deeply woven into the city’s identity. However, it has long lacked dedicated guardians dedicated to modernization.
“Our mission is to step in to that role, not only retaining its legacy, but also equipping trade with the technology, data and scale it needs to thrive. Through this investment, we have repositioned the foundations of the licensing industry and built Sherbet and built it as a new home: electricity, innovation and for the future.”
Sherbet’s growth strategy goes beyond electrification. The investment will fund the launch of a comprehensive driver-centric technology platform that integrates access to booking, data, advertising opportunities and advanced analytics to help drivers improve their income and work safety.
Each cab will also have the ability to provide real-time environmental, traffic and road safety data to city authorities, thereby enhancing London’s smart city certificates. Sherbet also promises to invest in the next generation of taxi drivers through the knowledge school pipeline to ensure long-term sustainability of trade.
Passenger accessibility and reliability remain central. The black cab has a unique design with access to wheelchairs, and a feature board Tauren says it will be maintained with zoom.
“Sherbet is redefining what it means to be a modern mobility company,” said Sven Hansen, co-founder and managing partner of Hoplon Investment Partners. “Asher’s Vision brings together the legacy of the black cab with forward-looking, data-led electrification approach and driver capabilities.
The investment will also help improve stance on unlicensed ride-hailing giants, such as Uber. By leveraging its trusted, regulated brand and combining legacy with innovation, Sherbet aims to outperform application-based competitors through compliance, quality assurance and sustainability.
Sherbet’s models have attracted interest from cities around the world, hoping to replicate London’s unique heritage and innovation blend. With Hoplon’s support, the company is expected to export its platform internationally, positioning London black taxis as a global symbol of sustainable urban mobility.
For London, investment not only marks a milestone in the taxi trade, but also improves the capital’s green certificate. For Sherbet, it marks the future of black taxis still icons, but for the sake of cleaning, smarter age reimagining.
