By Le Figaro with AFP
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Stellar will assemble vehicles in South Africa for the local market and for export, the automotive group announced on Wednesday. The automotive group born from the merger of Peugeot-Citroën and Fiat-Chrysler has signed a memorandum of understanding with the public fund IDC (Industrial Development Corporation) to develop a production unit in South Africa, Stellantis said in a press release. The manufacturer currently distributes its Peugeot, Citroën, Opel, Fiat, Jeep and Alfa Romeo brands there via a partner.
The CKD (Completely Knocked Down, i.e. from vehicles already partly assembled) production site is expected to be built in a South African Special Economic Zone (SEZ) and its construction should be completed in by the end of 2025. “This is an important step in our Dare Forward 2030 strategic plan, aimed at strengthening our leadership in the Africa Middle East Region and allowing us to become a major player in South Africa”, indicated Samir Cherfan , which runs Stellantis in Africa and the Middle East.
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The group intends to more than double its sales in these regions by 2030, to one million vehicles, against 415,000 units and 12% market share in 2022, behind the leader Toyota. The group is aiming for “a regional production autonomy of 70%”, underlined Mr. Cherfan. “This brings another stone to the achievement of our goal of producing one million cars locally in South Africa,” said IDC CEO Tshokolo Petrus Nchocho.