The London Taxi Company's (LTC) Ansty Park site in Coventry is the home of its new electric taxi, the TX5.
LTC - which now employs up to 1,500 people - has invested more than £300m in the TX5 after manufacturing the black cab in the UK for 69 years.
Administrators were called into LTC in 2012 before Chinese carmaker Geely bought the business the following year.
Read more news for Coventry and Warwickshire
The first electric taxis to roll off the production line will go on sale in London in the final quarter of the year, before being sold around the world early in 2018.
It has been described as one of the great comeback stories in UK manufacturing history - and that is exactly what it is.
Back in 2013 London Taxis International was on its knees and looking for a new owner.
Then Chinese firm Geely came to the rescue and almost immediately announced plans to build a new factory - but not only that, it revealed plans to make electric vehicles and employ more than 1,000 people.
It is the first all-new car factory in the Midlands since 2003, when Aston Martin opened its state-of-the-art plant at Gaydon in Warwickshire. That was on a much smaller scale, though.
It is also one of the biggest single Chinese investments in the region and it shows that the West Midlands continues to lead the way when it comes to both automotive research and development and production.
LTC, previously known as LTI, started life in the 1920s, producing car bodies for Jaguar, Rolls Royce and Bentley.
It will retain its existing Holyhead Road premises in Coventry as a paint shop once the production of the existing TX4 taxi ends in the summer.
Staff have moved into the Ansty Park plant this month ahead of Wednesday's official lunchtime opening, involving company representatives.
The new site will house a research and development centre for the electric vehicle, with engineers accounting for 200 of the newly-created jobs.
A £300m taxi manufacturing plant which created 1,000 new jobs is to be officially opened later.