Ricochet News

Coega investor FAW becomes SA’s second biggest truck exporter

May 18, 2018
Coega investor FAW becomes SA’s second biggest truck exporter

R600 million investment at Coega SEZ bearing fruits

First Automotive Works, also known as FAW, has moved three places up the rank from fifth to a top two position behind the Volvo group.

The fortune 500 company with a truck assembly plant worth six hundred million located at the Coega Special Economic Zone (SEZ) spent the greater part of 2017 raving up its export numbers to two hundred and twelve (212) units.

“Nothing gives us greater pleasure than to see the extent of success that accumulates with investments located at the Coega SEZ.

"It validates the findings of an independent study on the Coega SEZ, which found that 90% of operational investors described the SEZ and its logistics park as the ideal location for industries,” says Dr Ayanda Vilakazi, Unit head: Marketing, Brand and Communications.

The success of FAW in the year 2017, is compounded by a further record year in terms of domestic sales having grown from 929 units in 2016, to 1 032 units in 2017.

“As the CDC we were very proud to hear of the company having rolled of its 3 000th locally built truck off the production line in 2017,” concludes Dr Vilakazi.