Saudi Arabian automobile distributor Jameel Motors and China’s Chongqing Changan Vehicle plan to enter the South African market later this yr because the continent’s largest economic system reveals indicators of restoration.
Jameel will begin promoting Changan’s SUVs, bakkies and sedans, in addition to its Deepal electrical automobile vary from the fourth quarter, the businesses stated in an e-mailed assertion on Monday.
Jameel, a part of Abdul Latif Jameel Group, the third-largest shareholder of Rivian Automotive, plans to speculate R500-million and open 50 showrooms within the “medium time period”.
“The South African market represents a big long-term funding alternative, given that it’s the largest automotive market in Africa,” they stated.
South Africa had over 500 000 new automobile gross sales final yr, with home new automobile gross sales rising greater than 10% in January yr on yr, based on business affiliation the Automotive Enterprise Council (often known as Naamsa).
The transfer additionally marks the newest inroad by a Saudi Arabian investor in South Africa.
TCS | We take a look at drive South Africa’s least expensive electrical automobile
Zahid Group is at the moment in talks with South Africa’s Barloworld to extend its stake within the logistics agency. The Saudi Telecom Firm, through a subsidiary, just lately acquired a South African telecommunications firm, and Riyadh-based ACWA Energy has signed a memorandum of understanding to speculate US$10-billion in South Africa’s renewable vitality business over the subsequent decade. — (c) 2025 Bloomberg LP
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