China is actively encouraging its electric vehicle manufacturers to consider investing in South Africa in a bid to strengthen ties between the two countries.
“We encourage the Chinese companies to consider, very seriously consider, to move some of their assembly lines or value added in South Africa,” the Asian nation’s ambassador to South Africa Wu Peng said.
Wu Peng clarified that such decisions will be significantly influenced by market conditions. China is South Africa’s largest trading partner and a leader in electric vehicles, precisely the sector in which South Africa is looking to grow.
In February, the South African government announced the possibility for carmakers to claim a 150 per cent tax deduction on investments in electric vehicle production facilities, but details of the plan have not yet been disclosed. This is reported by
BusinessTech.
Wu Peng said Chinese companies operating in South Africa also expect to increase cooperation in key areas such as infrastructure, new energy and mineral processing.
Photo:
iStock
