Hyundai Automotive South Africa says it is to source components in South Africa for export to its Korean parent, thus earning export credit under the country’s Motor Industry Development Programme to offset against the price of imported vehicles, writes Dave Cumming.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
It will target leather seats, wire harnesses and catalytic converters, which are freely available from local suppliers, which would preclude the need for it to set up manufacturing plants.
All Hyundais sold in South Africa are fully imported and the company is forced to buy export credits from others with a surplus to offset against their prices.
