South Africa is set to attract Chinese investment in its $27 billion automotive industry following the approval of a tax break for new-energy vehicle production. The law aims to boost the manufacturing of environmentally friendly vehicles, positioning the country as a hub for innovation in the sector. The Automotive Business Council, represented by CEO Mikel Mabasa, confirmed that three Chinese automakers have signed non-disclosure agreements, though their identities remain undisclosed. This development highlights South Africa's strategic efforts to align with global trends in sustainable transportation. The move is expected to strengthen the nation's economy and foster international partnerships in the automotive industry. Continue here.
