BAIC plant accelerates its global efforts

Over the past two decades, foreign automakers have injected billions of dollars into China with an eye on the country's huge consumption power. But the situation has changed drastically in the past few years, as Chinese carmakers are fast catching up with their foreign counterparts in the global markets with inexpensive, easily serviceable products.

In line with that trend, Beijing Automotive Industry Holding Co Ltd, one of China's five major automakers by sales revenue, is expected to reach an annual production capacity of 50,000 vehicles at its South Africa plant by the end of 2019. It aims to further compete with established global rivals such as Toyota Motor Corp and Ford Motor Co in Africa.

Located in Port Elizabeth, a shipping hub in South Africa, the plant is a joint venture between BAIC and South Africa's State-owned Industrial Development Corp, a financial company providing capital support for the country's companies and investment projects.