Stellantis NV, the Netherlands-based automaker will invest 3 billion rand (around $160 million) in building a new vehicle manufacturing plant in South Africa. This investment is the result of a collaboration with the Industrial Development Corporation of South Africa (IDC) and the Department of Trade, Industry and Competition.

A memorandum of understanding between Stellantis and the South African government was signed to this effect in March 2023.

Source: Africa News Agency