An IOL report yesterday revealed that one Chinese and two European motor manufacturers were discussing the establishment of completely knocked-down (CKD) manufacturing facilities in the Coega industrial development zone (IDZ).
Without revealing the company names, the report quoted Gustav Meyer, the Coega Development Corporation’s senior manager of international markets for transport industry, saying that one of the European motor manufacturers was a heavy truck manufacturer.
And IOL writer, Roy Cockayne, said the Chinese member of the trio was believed to be Beijing Automotive International Corporation (BAIC) - China’s fifth-largest automotive manufacturer - which he added had last year confirmed that it would be investing R11 billion in a new vehicle manufacturing plant in SA.
And his research also found that the Industrial Development Corporation (IDC) had already made public that it would hold between 20% and 35% in BAIC’s SA business.
