Plans have been concluded by Chinese automaker, SAIC Motor Corporation Limited, to launch its first manufacturing plant of in Africa. This is part of the firm’s expansion drive into the African market.
The new factory will be located in Tunisia, a northern African nation. Recently, SAIC Motor signed an agreement with a Tunisian firm, Meninx Holding, for the setting up of the plant in the country to serve African and European markets.
SAIC Motors noted that the new deal forms part of its strategic expansion agenda to become a leading player in the world automobile industry.
In 2017, SAIC Motor sold 6.6 million cars and is currently the leading car manufacturer in China, controlling 23 percent of the country’s market thanks to its brands Roewe and Morris Garage (MG) vehicles as well as joint ventures with Volkswagen and General Motors.
According to the automaker, the deal with Meninx was completed at the recently held Forum on China-Africa Cooperation (FOCAC) in Pekin.
Over the years, Meninx has distributed MG cars in Tunisia under the leadership of Mehdi Tamarziste and with this new development, it will now act as SAIC’s partner in Africa.
SAIC Motor, formerly Shanghai Automotive Industry Corporation, is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai, China, with multinational operations.
Currently, it participates in the oldest surviving sino-foreign car making joint venture, with Volkswagen, and in addition has had a joint venture and 40% shares of General Motors since 1998.
TunisianMonitorOnline (Source: Business Post)