The commitment made by Toyota at the 2019 South Africa Investment Conference will now see the company producing its first generation of hybrid electric vehicles on a South African assembly line.
The automotive sector has remained one of South Africa’s most investment-intensive industrial sectors, with seven light-vehicle producers investing a record R9.2 billion in 2020 while the component sector attracted R2.4 billion during the same period.Seale said the president will be accompanied by Minister Ebrahim Patel of Trade, Industry and Competition, KwaZulu-Natal Premier Sihle Zikalala and Mayor of eThekwini Mxolisi Kaunda.
Meanwhile, the R15.8 billion project to upgrade the Pretoria-based Ford vehicle manufacturing plant is on track, and it is anticipated to be completed by September next year. So said Gauteng MEC for Economic Development, Parks Tau, when he accompanied the Deputy Minister of Trade, Industry and Competition, Fikile Majola, to evaluate the construction work at the site earlier this month.
Known as the Tshwane Automotive Special Economic Zone, the project was launched by Ramaphosa in 2019, with a R15.8bn investment injected into South Africa by the Ford Motor Company and a further R4.3bn investment from automotive components suppliers located at the project.
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