EFF says, GM exit should see SA build own automotive industry

GM exit should see SA build own automotive industry. JOHANNESBURG – The Economic Freedom Fighters (EFF) says it’s not shocked by a decision by General Motors (GM) to disinvest in South Africa saying the only solution is for the country to build its own automotive industry.
The Economic Freedom Fighters’ Mbuyiseni Ndlozi says South Africa cannot rely on foreign investments.
“How come we still don’t have a locally produced car because this move by GM must force us to invest in locally produced and manufactured automobiles so we can have sovereignty in that industry.”(Edited by Refilwe Pitjeng)
The EFF’s Mbuyiseni Ndlozi says South Africa cannot rely on foreign investments.
GM will shut down its operations in South Africa from the end of the year as part of its plans of restructuring its international operations to improve overall financial performance.

according to

GM exit shows SA must build its own automotive industry, says EFF

The EFF said South Africa’s failure to build a domestic automotive industry would result in even more job losses and the destabilising of the local automotive industry.
“A permanent solution is to build our own automotive industry, subsidise it, and provide it with a solid market through government budget and offtake.
The Economic Freedom Fighters (EFF) said on Friday that General Motors’ (GM) decision to exit South African market called for a permanent solution to build a domestic automotive industry as it would lead to loss of thousands of jobs.
“The EFF is in no shock to learn of General Motors’ decision to disinvest from South Africa.
The EFF has long called on South Africa to build internal industrial capacity and not rely on foreign investments who just leave us when they deem fit,” the party said in a statement.
GM exit should see SA build own automotive industry

according to The company will focus its GM India manufacturing operations on producing vehicles for export only and will transition GM South Africa manufacturing to Isuzu Motors.
GM India started its Indian journey in 1996 and now offers products under the Chevrolet brand in the country.
Earlier, GM India announced an investment of United States dollars 1 billion to transform its ailing operations.
Stefan Jacoby‚ GM executive vice president and president of GM International said, “We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities”.
GM India President and Managing Director Kaher Kazem said going forward focus for the company’s manufacturing base at Talegaon would be “export markets, upcoming export vehicle launches and exploring longer-term strategic options”.

collected by :Catlin Logan

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