between BYD and South Africa over a possible investment by the Chinese electric vehicle manufacturer, a top government official said, although no specific timeframe for the next steps has been agreed.has expressed interest to work and invest in South Africa, according to Parks Tau, the trade, industry & competition minister. “It’s now about taking it to the next level,” he said.
Leaders from some 50 African countries gathered in Beijing this week for the Forum on China-Africa Cooperation Earlier this week, Tau accompanied President Cyril Ramaphosa to BYD’s Shenzhen headquarters, where they were personally greeted by founder and chairman Wang Chuanfu who sought to wow them with the company’s advanced EV technology and car features.
He said his government was talking to BYD as well as other Chinese companies in the EV-related industry. “They’ve been part of the conversations we are having here, primarily focusing on ensuring that industrialisation happens on the African continent.”On Thursday, Chinese leader Xi Jinping pledged US$50-billion in financial support for Africa over the next three years, including $10-billion in investment by Chinese companies.