Hail green black cabs
A SHOWCASE fleet of 2,000 electric cabs delivering cleaner air, quieter traffic and better conditions for drivers and passengers – that’s the way ahead for premium black taxi business Sherbet after it secured a major investment package.
With £1.5million of growth backing from Simply Asset Finance, the London firm is accelerating the expansion which is already under way. This has seen the decommissioning of 250 diesel-powered vehicles and put 450 green, digitally connected and correctly licensed flagships on the road.
Its qualified drivers are sole traders who rent the vehicles from Sherbet Electric Taxis and today’s clients are increasingly corporates, primarily in the West End and the City, who want to reduce their carbon footprint and be driven by a company committed to net zero.
Despite taking a big hit during lockdown, founder and chief executive Asher Moses has pressed on with his eco agenda and dedication to the iconic London black cab. In 2025 he is forecasting a £180million turnover.
“There’s no substitute for the service quality black taxis deliver,” declares the former cabbie. “Our drivers are properly trained, for example they know how to transport wheelchair users safely and stop in the right place. As we innovate from within, we’re proving the taxi trade can be revolutionised and part of sustainable city transportation.
“For our drivers this work is a career, not a stop-gap. Joining us is a lifestyle change, driving is smoother and easier.”
Sherbert’s taxis are produced by Coventry-based London Electric Vehicle Company.
Maximising taxis’ potential has been key to Sherbet’s strategy. Its appbacked Ride service guarantees a black cab, its Drive service provides warranty centres for maintenance and repairs, and its Sherbet Advertise is a mobile messaging revenue generator. “Both the outside and inside of taxis are perfect for promotions,” Moses explains. “We have an in-house media agency specialising in electric taxi advertising and offer packages for brands wanting sustainable advertising and a high level of control. Our moving billboards can be used to cover hard-to-reach areas and sophisticated analytics can track coverage.”
Simply Asset Finance chief executive Mike Randall said Moses’ success has enabled him to create jobs in his community and boost its economy: “It is vital business owners can access support from lenders who understand their business. That is why we built Simply with industry specialists and the technology to support them.”
Sherbert is now carrying out a trial in Sheffield and is on course to decommission another 250 diesel taxis. “Public demand is there,” says Moses. “We would like more support from government and Transport for London to speed up the transition and create better access for those who share the green ethos.”