The Coventry manufacturer of the London black cabs hit by a spate of under-bonnet fires today cheered investors with its biggest overseas order to date.

Manganese Bronze, whose Coventry-based London Taxis International (LTI) makes the vehicles, will supply 200 cabs to the Bahrain Economic Development Board (BEDB).

The cabs sold are TX4s, the model affected by the overheating. LTI is recalling thousands of the problem vehicles for modifications at a cost of £4 million.

The new cabs - which are white and donned with a chequered flag roof - will be delivered by March 2009 in time for Bahrain's Formula One Grand Prix the following month.

The news pushed Manganese Bronze's shares almost 5% higher at one point. Although the value of the deal was undisclosed, the cabs retail for an average £32,000 putting the potential value of the order at more than £6 million.

LTI said the London taxi had been chosen because of its "strong brand values and global reputation".

Chief executive John Russell added: "It demonstrates the very real international appeal of the London taxi even before we have begun commercial production at our new joint venture in China.

"We hope to supply Bahrain with more taxis and look forward to working with their middle eastern neighbours in the near future."

The upbeat news comes a week after the firm said vehicle sales were down by more than a third due to the economic uncertainty.

Manganese Bronze sold 1,628 vehicles in the first nine months of 2008, compared with a near-record figure of 2,604 a year earlier.

It has cut costs in order to achieve a 15% reduction in its manufacturing break-even level, at around 2,000 vehicles a year.

The company also said it had completed work on 400 TX4s recalled following 12 cases of under-bonnet fires, involving changes to emission control equipment, the cab's heat management system, and under-bonnet insulation.