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R600 million FAW investment

Ground breaking at Coega has taken place for the R600 million FAW investment. The first phase will commence with 5,000 medium-heavy commercial vehicles, and 30,000 passenger and light commercial vehicles in subsequent phases. The assembly plant is expected to be ready in about 18 months. FAW is also investigating the automotive component industry with the possibility of sourcing parts from the region. FAW ranked 197 on the fortune Global 500 list last year and employs over 134,000 people world wide. The plant expects to employ 500 people when operational.