JOHANNESBURG - President Cyril Ramaphosa took part in celebrations at the Toyota Prospecton plant in Durban where the company is launching its new hybrid vehicle.
The launch was a commitment made by Toyota at the 2019 South Africa Investment Conference.
The automotive sector remains one of the country's most investment-intensive industrial sectors.
Last year alone, seven light-vehicle producers invested a record R9.2-billion.
I am advised that the company will seek to ramp up its projected 4,000 hybrid vehicles planned for next year if availability of batteries improve.— Cyril Ramaphosa #VoteANC (@CyrilRamaphosa) October 26, 2021
This could provide great opportunities in the future for localisation.