PHASE one of the new billion rand BAIC automobile assembly plant is finished.
Thanks to a deal between China and South Africa, the basic factory for the BAIC Group is complete.
While it needs to be finished and set up before it can start production, BAIC said the semi-knocked-down line and construction of its vehicle assembly plant, located at the Coega Special Economic Zone in Port Elizabeth, is satisfactory.
The full-scale production of the BAIC X25 conpact SUV will start before the end of the year.
President Cyril Ramaphosa and Xi Jinping, president of the People’s Republic of China, unveiled the first BAIC vehicle assembled in African.
BAIC describes its new facility in Coega as high standard, environmentally friendly and intelligent.
Xu Heyi, chairman of the BAIC Group, said: “The BAIC SA project is testimony to the BRICS Summit which centred on inclusive growth and shared prosperity in the 4th Industrial Revolution.”
IDC CEO Geoffrey Qhena said: “Over and above this particular investment, we expect spin-offs to include additional investments and more job creation.”