Qgeberha<\/p>\n
Eastern Cape Premier Oscar Mabuyane, MEC for Economic Development and Environmental Affairs Nonkqubela Pieters, MEC for Rural Development and Agrarian Reform Nonceba Kontsiwe, Nelson Mandela Bay Municipality Executive Mayor, Cllr Babalwa Lobishe, and Acting CEO of Coega Development Corporation Themba Koza, and Assembly Plant General Manager of FAW SA, Peng Lei recently participated in a pledge signing at the Bluewater Bay Sunrise Hotel. They later signed the FAW Investment Declaration at the Coega Business Centre.<\/p>\n
According to Asanda Xawuka, executive manager for business development at the corporation, the investment injection is intended to expand FAW SA\u2019s existing plant to increase production capacity from 5 000 to 8 000 units per annum. \u201cThus, the investment will cover plant and equipment, some building expansion and mostly training and development, as in the past, FAW [is] reported to have trained about 2 500 people,\u201d Xawuka said.<\/p>\n
\u201cWe sincerely thank First Automotive Works for their expansion in the principal\u2019s office. I look forward to hearing Coega Development Corporation\u2019s commitment to supporting every tenant and business established here in South Africa. Together, we will commit ourselves to success. Gao Guangbin emphasized the vast market potential, as manufacturing in South Africa opens access to the African continent and beyond, including South America. This partnership between South Africa and China will strengthen collaboration, with plans to return next year to continue building on our shared vision,\u201d stated Premier Mabuyane.<\/p>\n
FAW SA recently celebrated 30 years in the South African market, underscoring its impact as one of the largest Chinese investors in SA\u2019s automotive industry.<\/p>\n
The latest financial commitment builds on its decade-long presence in the Coega Special Economic Zone (SEZ), where it initially established a R600 million assembly plant covering 30 000m\u00b2.<\/p>\n
This five-year, R200 million investment partnership between China and FAW SA marks a major step forward for South Africa\u2019s automotive sector. Building on a decade-long partnership, FAW SA has already recruited and trained over 2,500 South African employees through its business skills center, contributing to local job creation and skills development. This new investment focuses on advanced digitalization of equipment, ensuring the plant remains competitive in a rapidly evolving industry. Through this collaboration, both China and South Africa are set to benefit from strengthened economic ties, further opening pathways for innovation, trade, and investment in the region.<\/p>\n","protected":false},"excerpt":{"rendered":"
Qgeberha Eastern Cape Premier Oscar Mabuyane, MEC for Economic Development and Environmental Affairs Nonkqubela Pieters,<\/p>\n","protected":false},"author":2,"featured_media":1037,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-1036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-updates-from-china"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t