Automotive giant, BMW, has announced that it will pour in some R4.2 billion in investment to equip its Rosslyn Plant in Tshwane to build the next generation BMW X3 hybrid plug in vehicle.
Production of the car is expected to begin in 2024 with some 300 employees at the plant to undergo specialist training.
On Wednesday, at an event marking 50 years since the automotive manufacturer entered South African shores, Deputy President Paul Mashatile said the investment was a vote of confidence in the country as an investment destination.
"What BMW has done through this investment shows that South Africa is open for business. What [they] have done through this investment is to give confidence to say South Africa...is an excellent investment choice and of course, we are a gateway to Africa.
"We are aware through your R4.2 billion investment in electrification and digitisation, you have secured the future of BMW Group plant in Rosslyn for another 50 years," he said.
Deputy President Mashatile said government has implemented several measures to make South Africa even more attractive to investors.
"One of the things that we are doing is establishing Special Economic Zones...where we are offering tax breaks, custom duty exemptions and infrastructure development subsidies. Those are the things that we think will help grow businesses together with yourselves and employ more people.
"Secondly, we are investing more in skills development and training programmes to upskill the South African workforce - particularly those in manufacturing - and also to invest in infrastructure," he said.
The Deputy President said the Rosslyn Plant has played a significant role in South Africa's automotive sector.
"Even more noteworthy, over these past 50 years, this facility has played a significant role in creating jobs. For us that is very important. We want that as we bring in investments. We want those investments that are going to create jobs.
"Additionally we appreciate your contribution to the advancement of technology and the high standards that you have set for responsible business practices in accordance with our Automotive Production and Development Programme [APDP].
"Through this APDP we aim to promote production volumes...and promoting added value in automotive components industry thus creating employment through the value chain," he said.
