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Coega SEZ Automotive Cluster Welcomes Expansion - published 16 May 2019

Coega SEZ Automotive Cluster Welcomes Expansion 

With South Africa`s transformation imperatively dependent on the strength of its economy, taking a step further into achieving inclusive and sustainable growth through exploring the automotive sector is key.

 

A report by the National Association of Manufacturers of South Africa (NAAMSA) suggests that, the automotive sector in South Africa accounts for 6.9% of GDP (4.4% manufacturing and 2.5% retail).

 

 To further contribute to driving domestic production and growth as well as employment creation, Coega Development Corporation welcomes the ‘rugged-four tonner’ addition to First Automobile Work’s (FAW) product line.

 

The R600 million Chinese vehicle manufacturing plant located in zone 2 of the Coega Special Economic Zone (SEZ) launched its 6. l30 FL medium truck. This is soon after the company released an 8. l40 heavy truck range. Expanding their product line to serve the local and African markets is what FAW`s CEO, Jianyu Hao describes as a decision based on “customer demand and market opportunity.”

“Our market analysis confirmed the need for a vehicle as durable and rugged as our heavy and extra-heavy trucks but reconfigured with a smaller engine and reduced payload compared to the highly successful FAW 8.l40 range”, he continued.

 

CDC Head of Marketing and Communication, Dr Ayanda Vilakazi celebrates advances made within the automotive cluster. “The CDC would like to congratulate FAW on their latest addition to their product line. To date, FAW has created over 100 operational and 653 construction jobs. FAW continues to contribute towards achieving socio economic transformation for this region which translates positively into the South African economy at large,” he said.

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