Ford announced on Tuesday investing $1.05 billion to increase its production capacity in South Africa, marking the biggest investment in the US car manufacturer's 97-year history in the African country
JOHANNESBURG (Pakistan Point News / Sputnik - 02nd February, 2021) Ford announced on Tuesday investing $1.05 billion to increase its production capacity in South Africa, marking the biggest investment in the US car manufacturer's 97-year history in the African country.
According to the company, the investment was made public at a press conference attended by South African President Cyril Ramaphosa and other key officials.
"Ford Motor Company today announced an investment of US$1.05 billion (R15.8 billion) in its South African manufacturing operations - marking the biggest investment in Ford's 97-year history in South Africa. It also represents one of the largest-ever investments in the South African automotive industry, boosting Ford's production capability and creating new jobs," the company said in a statement.
The investment will, among other things, upgrade the production at Ford's Silverton assembly plant in Pretoria, increasing its annual installed capacity to 200,000 vehicles as well as making it self-sufficient and carbon-neutral by 2024. It will also add 1,200 new jobs, increasing the local workforce to 5,500 and creating approximately 10,000 new jobs across the company's supply network.
"The extensive upgrades and new state-of-the-art manufacturing technologies will drive efficiencies across our entire South Africa operation - from sequenced delivery of parts direct to the assembly line, to increased vehicle production line speeds and precision of assembly to ensure the world-class quality that our customers expect," Andrea Cavallaro, the director of operations at Ford's International Markets Group, said.
Ford has been operating in South Africa since 1923, with the Silverton plant opening in 1967. The company is reported to be contributing over 1 percent of South Africa's GDP.
