South Africa and Chinese electric vehicle group BYD are in talks that could see huge investment into the local EV market.
Talks are progressing between BYD Co. and South Africa over a possible investment by the Chinese electric vehicle manufacturer, a top government official said, although no specific time frame for the next steps has been agreed.
Leaders from some 50 African countries gathered in Beijing this week for the Forum on China-Africa Cooperation, or Focac, where there have been frequent calls for China to help industrialize African economies by increasing technology transfers and beefing up manufacturing. He said his government was talking to BYD as well as other Chinese companies in the EV-related industry. “They’ve been part of the conversations we are having here, primarily focusing on ensuring that industrialization happens on the African continent.”
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