info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Internet
Beijing Automotive Industry Corp, one of China's five major automakers, is expected to have an annual production capacity of 50,000 units in South Africa by the end of 2019.
The plant is a joint venture between BAIC and South Africa's state-owned Industrial Development Corporation, with planned investment of $800 million.
BAIC aims to supply automobiles, including passenger vehicles, trucks and SUVs, from this manufacturing facility, not only to South African market, but the whole Africa in the long run.
Xu Heyi, chairman of BAIC, said the plant has generated 1,500 jobs in the first phase and is expected to create another 2,500 by the final completion of the project.
Eager to further enhance its earning ability in Africa, BAIC rolled the first car off the production line – an X25 compact SUV in its South African plant close to shipping hub of Port Elizabeth on Tuesday.
The factory located in the Coega Special Economic Zone was launched in August 2016. It is scheduled to have the capacity of assembly, painting and welding by the end of 2019.
Xu described the business ties between South Africa and China as one of "golden cooperation", which ensures the realization of prosperity through BRICS cooperation.
China and South Africa should make full use of our opportunities and comparative advantages to reach a win-win situation and they are demonstrating the value that closer ties and greater cooperation can deliver.
