India’s Tata to set up South African assembly unit

Written by Reuters

JOHANNESBURG, July 8 (Reuters) – Tata Motors (TAMO.BO: Quote, Profile, Research, Stock Buzz), India’s largest vehicle maker, is looking to set up a vehicle assembly unit in South Africa later this month, the company said on Friday.

“The … assembly plant in South Africa has been in the planning for a while, and we are at a point that this has now come to fruition,” Tata spokesman Debasis Ray said.

He said more details would follow at a formal launch on July 22.

The report comes at a time when demand for new vehicles in South Africa appears to be rising.

South Africa’s new vehicle sales were up nearly 13 percent year-on-year in June to 44,880 units, according to statistics by the National Association of Automobile Manufacturers. [ID:nLDE7630GQ] (Reporting by Yumna Mohamed; Editing by Helen Nyambura-Mwaura