Finance

Ford injects $170 million into South African plan

Tuesday, 05 April 2016 21:44

American Motor Company Ford announced, in a statement published on April 5, it will invest 2.5 billion rand ($170 million) to build a new plant in Pretoria as it aims to bring more models to sub Saharan Africa.

“We will expand our activities at the South African Silverton assembly plant in Pretoria to produce our newest Ford Everest (Seven Seat SUV), as well as the new Ford Ranger launched at the end of last year,” the group said in its statement.

The new plant will add about 1,200 jobs at Ford’s South Africa and within the South Africa supplier network.

“By producing the Everest in South Africa, we will be able to make it more readily available, and in a greater variety of models, for customers throughout Sub-Saharan Africa,” said Jim Farley, executive vice president and president of Ford Europe, Middle East and Africa. “The investment reaffirms the importance of these markets as part of our growth strategy across the Middle East and Africa,” he added.

In 2015, Ford’s South African plant sold a record volume of 78,471 light-duty and private cars.

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