Government Commits To More Incentives For Investment In Automotive Production

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government commits to more incentives for investment in automotive production

The government has recommitted itself to offering incentives to investors to ramp up local automotive production, which contributes about 5.3 to gross domestic product.

The undertaking by the department of trade, industry and competition comes in the wake of the multi-billion-rand South Africa-China partnership investment in the Eastern Capes Gqeberha BAIC SA assembly plant, which recently launched the companys latest B30 SUV.

The government will support the industry through the automotive investment scheme AIS if it produces completely knocked down kits in South Africa, the departments deputy director-general, Tebogo Makube, said at the launch, adding that BAIC could reap the benefits if it complied with AIS requirements by next year as planned.

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