The 2017 South African Auto Festival will officially open on September 1st. The Beijing Automotive Group's SUV X25 will be officially launched at the Auto Festival, which is the second product released by BAIC Group in South Africa. Not only Beiqi, but also many Chinese auto companies including FAW, Great Wall, Changan, Geely, Jiangling, etc. have begun to deploy in South Africa. Under the “One Belt, One Road†initiative, South Africa has become a hot spot for Chinese auto companies to invest.
As a member of the BRICS, South Africa is one of the most important new markets in the world. China is South Africa's largest trading partner, and South Africa is China's largest trading partner in Africa. The automobile industry is the second largest industry in South Africa and the largest manufacturing sector. Its output value accounts for about 7.5% of GDP, accounting for 30% of manufacturing output and 10% of export products. %. Due to the developed automobile industry, South Africa is also known as "Detroit in Africa".
According to reports, at the end of 2015, under the witness of the leaders of China and Africa, BAIC Group and South Africa Industrial Development Corporation signed a memorandum of understanding on the joint venture and cooperation of the South African factory project with a total amount of 800 million US dollars and a capacity of 100,000 units. In August 2016, the South African factory was officially laid. In March 2017, another cooperation project between BAIC Group and South Africa Industrial Development Co., Ltd., the South African Automobile Industrial Park project officially settled in the Kuha Industrial Zone in South Africa.
Li Xing, general manager of BAIC South Africa Motors, said that the industrial park project will start operations in 2018, ensuring that there are no fewer than 600 long-term jobs for new jobs. The project construction will further improve the local automobile industry chain and drive the economic development of South Africa. In the future, the South African industrial base will be built into a comprehensive industrial base involving automobile R&D, automobile manufacturing, automobile finance, automobile services, car rental, used car business and new energy business.
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