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Major vehicle manufacturers move to invest in SA

Business News 7 days ago

China pledges R206bn, Saudi Arabia and UAE R146bn each.


18 Feb 2021
PREMIUM!
Major vehicle manufacturers move to invest in SA

Nissan is one of the many automakers producing in Brazil, at its Resende complex outside Rio de Janeiro -- auto production in Brazil took a major hit in April 2020 due to the coronavirus crisis. AFP/File/Yasuyoshi CHIBA

Besides the three major vehicle manufacturers – Ford, Mercedes-Benz and Nissan – that have shown confidence in the South African economy by expanding their investments, many Asian-based automobile companies have pledged to do the same. This was announced during the State of the Nation Address (Sona) debate in parliament by Minister of International Relations and Cooperation Dr Naledi Pandor, who said Isuzu, Tata Motors, Mahindra Motherson Sumi and Toyota have expanded their investments in SA. They responded to the Presidential investment summits and state visits by President Cyril Ramaphosa. ALSO READ: Ramaphosa’s economic recovery plan: here are the basics Pandor said...

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