BAIC Eastern Cape plant on track, says IDC

It has been a year since Chinese vehicle manufacturer Beijing Automotive Group (BAIC) and South Africa’s Industrial Development Corporation (IDC) broke ground on a new vehicle assembly plant in the Coega Industrial Development Zone (IDZ), near Port Elizabeth. BAIC is the major shareholder in the joint venture (JV), holding 65% of the plant, with the State-owned IDC holding the remaining 35%.