July 30, 2018 IBOMLLC Team

Chinese carmaker BAIC set to move into the South African market

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

According to a report by City Press, BAIC a leading car manufacturer in China is eyeing for a share of the established global brands.

BAIC has made public its global expansion plan that will see it compete with established car brands in some of the new markets; one of which is South Africa. The company outlined its plans at a ceremony held to mark the completion of phase one of its local production plant in South Africa.

The company has invested $835 million in the manufacturing plant located in Coega special economic zone in Port Elizabeth. From this production plant, BAIC intends to produce vehicles tailored to the African terrain.

We have established a very aggressive and sophisticated marketing plan for South Africa,” said Xu Heyi, the Chairman of BAIC International. “Currently, we have 17 dealerships and expect to increase them to 27 by the end of the year.”

China – South Africa bilateral ties

The first vehicle produced by BAIC was unveiled by the Chinese President, Xi Jinping and his counterpart President Cyril Ramaphosa on Tuesday. The establishment of the BAIC production plant in South Africa serves to underscore …read more

Read more here:: Chinese carmaker BAIC set to move into the South African market

      

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