Isuzu Motors’ R1.2 billion investment in its local plant in Gqeberha has resulted in the launch of the latest derivative of its D-Max bakkie.
This investment is part of the R1.2 trillion domestic and international investment drive set in motion by President Cyril Ramaphosa in 2018.
Ramaphosa spoke at the launch in Gqeberha, stating that this investment, along with others in the automotive industry, demonstrates renewed confidence in South Africa’s growth prospects.
The President attended the launch in Gqeberha saying this investment, together with others in the automotive industry, signals renewed confidence in South Africa’s growth prospects.
“It is a welcome contribution to our effort to significantly expand local production as we work to rebuild our economy and create jobs. The automotive industry is one of our economy’s most important sectors.”
The multibillion-rand investment demonstrates Isuzu’s commitment to South Africa.
It’s one of the successes of the National Automotive Production Development program, and it’s a much-needed boost for the crippled economy.
The President says attracting and keeping investors remains imperative for economic recovery.
“This investment together with approximately R332 billion investment pledges, made at our fourth SA investment conference held last month will do much to support SA’s economic recovery. Of the pledges received at the conference, seven were from the automotive sector. This signals that the industry has renewed confidence in our country’s growth prospects.”
The investment will keep 1000 people employed at the plant. It is estimated that an additional R2.8 billion in local content production value will be generated through this production life cycle, creating 24 000 indirect jobs.
President of Isuzu motor limited, Masanori Katayama says, “We also believe it is important to support and enrich people’s lives in South Africa, where drastic economic growth is expected in the near future in this important and promising market.”
The new D-Max bakkie will be produced alongside medium, heavy and extra-heavy commercial vehicles at the Struandale plant.
