Chery Takes Over Former Nissan Plant in South Africa

MT Newswires Live07-06

China's Chery Automobile (HKG:9973) formally opened its Rosslyn manufacturing plant in South Africa after acquiring the facility from Nissan Motor (TYO:7201) earlier this year, according to a press release on Saturday.

The carmaker said it will retain all 692 employees at the plant and expects the facility to support nearly 3,000 jobs across the supply chain.

The factory will undergo a full upgrade before production begins in the middle of 2027, with annual capacity expected to reach 50,000 vehicles per shift.

Chery aims to achieve an initial localization rate of 40% by 2028 and plans to develop the Rosslyn facility into a regional hub for research and development, manufacturing, supply chain operations and skills training, serving southern Africa.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment