JSE-listed automotive components and energy storage solutions manufacturer Metair Investments is to invest more than R700 million in its automotive components business in South Africa this year, most of it related to the supply of components for the new Ford Ranger. This includes a further R165 million to localise the automotive copper wire used by Hesto Harnesses.
Haffejee said Metair has made steady progress against its strategic initiatives in its 2021 financial year, which resulted in the company delivering a record performance and continuing to demonstrate its resilience in an environment that remained constrained by the effects of Covid-19. Energy storage business He said the energy storage business performed exceptionally well, and ahead of its recovery plan, by capturing all round increases in market demand.