BAIC revs up presence in South Africa

Beijing Automotive Industry Corp, one of China's five major automakers, is expected to have an annual production capacity of 50,000 vehicles at its South Africa plant by the end of 2019, said its top executive.

The plant is a joint venture between BAIC and South Africa's state-owned Industrial Development Corp, with planned investment of $800 million. The facility will start operations in the fourth quarter of this year.

Xu Heyi, chairman of BAIC, said the plant has generated 1,500 jobs in the first phase and is expected to create another 2,500 by the final completion of the project.