Billions in automotive investment pouring into SA

South Africa is experiencing a multi-billion-rand automotive investment boom.

Multinational automotive group Stellantis confirmed on Wednesday its intention to invest R3 billion in South Africa to establish a state-of-the-art greenfields automotive plant at Coega in the Eastern Cape.

Stellantis was established in 2021 through a merger between the French-based PSA Group and Italian-American conglomerate Fiat Chrysler Automobiles (FCA).

It has nine vehicle brands, including Fiat, Alfa Romeo, Citroën, Jeep, Opel, Peugeot and Abarth.

Mikel Mabasa, CEO of automotive business council Naamsa, confirmed on Thursday that Stellantis was one of three original equipment manufacturers (OEMs) investigating and considering investing in the establishment of vehicle manufacturing plants in South Africa.

Source: Moneyweb