BMA reposted this
We’ve got big news to share. We are incredibly pleased to announce Toyota Tsusho Africa (TTAF), a subsidiary of Toyota Tsusho Corporation, Ogihara (Thailand) Corporation and Toyota South Africa Motors (TSAM) have launched a joint venture in South Africa to boost local automotive parts and manufacturing. The announcement was made this week at the construction site of the future plant at Dube Trade Port in Durban. The new partnership is poised to significantly add to local manufacturing with the production of small to medium stamped parts for TSAM. Production is set to commence in July 2025 with an investment injection of over R1.1 billion into the production of essential manufacturing components. This strategic partnership will not only raise TSAM’s local procurement ratio by 2%, translating to an estimated R700 million in annual spend, but will also drive significant job creation, with 250 new jobs expected by 2026. This collaboration exemplifies our commitment to localisation and underscores the possibilities for growth and development in the KZN province. The future looks bright and we are continuing to do our part in leading the way towards an even stronger South Africa. Read more about the new developments here: https://brnw.ch/21wM1Kl
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