China Makes Biggest South Africa Auto Investment in 40 Years
- BAIC to build facility with capacity of 100,000 units a year
- Project to cost 11 billion rand; South Africa’s IDC is partner
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A Chinese state-owned car manufacturer agreed to build an 11 billion-rand ($759 million) auto plant in South Africa, the biggest investment in a vehicle-production facility in the country in four decades.
The Beijing Automotive International Corp. plans to start production at the facility in 2018, International Chief Executive Officer Dong Haiyang told reporters in the southern coast city of Port Elizabeth on Tuesday. The plant will be built in partnership with South Africa’s state-owned Industrial Development Corp. and have a capacity of 100,000 units a year by 2027, he said at the the industrial development zone where the factory will be located.