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‘Ford’s R2.5m injection comes amid a surge in foreign investment’ – Watch
9:55 CAT | 06 Apr 2016
Reuters / The logos of Ford and Mazda Motor Co are seen at the company"s assembly plant in Pretoria July 18, 2014. Ford yesterday announced the expansion of its existing plants in South Africa.
A R2.5 billion investment from Ford comes amid a surge in foreign investment in the South African vehicle manufacturing industry, that’s according to the National Association of Automobile Manufacturers.
Ford yesterday announced the expansion of its existing plants in South Africa.
Ford’s Jeff Farley has revealed the new Everest SUV will be manufactured at the company’s Silverton plant near Pretoria.
The Port Elizabeth plant also stands to benefit from the R2.5 billion investment.
It will lead to the creation of at least 1,200 jobs.
The National Association of Automobile Manufacturers (Naamsa)’s Niko Vermeulen says there has been an increase in foreign investment over the past few years.
“Clearly it’s a sign of confidence that those companies have.”
He says nearly R50 billion has been invested in the South African vehicle production sector since government introduced an incentive-driven automotive production and development programme in 2013.
Source: EWN
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