Mahindra & Mahindra Ltd. is at an advanced stage of assessing plans to upgrade its South African plant, according to people familiar with the matter, as India’s second-largest automaker looks to capitalize on rising demand for affordable vehicles. The company has been working with the state-owned Industrial Development Corp. to assess the feasibility of setting up completely knocked-down, or CKD, ...
Mahindra & Mahindra Ltd. is at an advanced stage of assessing plans to upgrade its South African plant, according to people familiar with the matter, as India’s second-largest automaker looks to capitalize on rising demand for affordable vehicles. The company has been working with the state-owned Industrial Development Corp. to assess the feasibility of setting up completely knocked-down, or CKD, production at its facility near the port city of Durban, the people said, asking not to be identified because the discussions are private. Mahindra already assembles semi-knocked down vehicles at the plant. The growth in South Africa’s mid-market segment has lured Chinese and Indian rivals that have eaten into the market share of companies including Ford Motor Co. and Mercedes-Benz Group AG . Expanded local facilities may allow Mahindra to sidestep potential import tariffs being weighed by President Cyril Ramaphosa ’s government to spur domestic auto manufacturing — the largest component of the nation’s factory output. Representatives for the Mumbai-based company and IDC didn’t immediately respond to requests for comment. The plan may also help Mahindra boost sales and compete with companies including Chery Automobile Co. , as well as Suzuki Motor Co. , which ships most of its cars from India. Toyota Motor Co. remains the nation’s biggest seller of cars. Chery, China’s top car exporter, earlier this year agreed to buy Nissan Motor Co. ’s plant in South Africa. Mercedes is considering sharing its manufacturing plant in the nation with Great Wall Motor Co. , people familiar with the matter told Bloomberg. Mahindra, which opened its assembly plant in 2018, manufactures its Pik Up light trucks at the facility. The vehicles are popular with local farmers and are also used by police in neighboring Mozambique. Century-Old Industry Buckles Under Asian Pressure: Next Africa Mercedes Mulls Sharing South Africa Plant With China’s GWM BYD Eyes Africa Growth as China Price War Intensifi...
Russia can help China and other nations weather energy supply disruptions stemming from the war in Iran, Foreign Minister Sergey Lavrov said after meeting Chinese President Xi Jinping in Beijing. “Russia can, without a doubt, compensate for the shortfall in resources that has arisen”, Lavrov told reporters in response to a question about the blockade of the Strait of Hormuz. He also said that Chin...
Russia can help China and other nations weather energy supply disruptions stemming from the war in Iran, Foreign Minister Sergey Lavrov said after meeting Chinese President Xi Jinping in Beijing. “Russia can, without a doubt, compensate for the shortfall in resources that has arisen”, Lavrov told reporters in response to a question about the blockade of the Strait of Hormuz. He also said that Chinese-Russian ties are “unshakeable in the face of any storms”. Lavrov confirmed that Russian...