CFAO South Africa, a company dedicated to delivering an integrated mobility ecosystem to support the development and growth of the automotive industry, has announced a joint venture between Toyota Tsusho Africa, one of its subsidiaries, and Ogihara Thailand
The collaboration will see the formation of Ogihara South Africa as well as the construction of a new component manufacturing plant at the Dube Tradeport in Durban to supply products to Toyota South Africa. This represents a strategic investment of R1.2bn (approx. US$67mn) into the South African automotive industry and is expected to create numerous employment opportunities while further deepening localisation in line with the South African Automotive Masterplan.
“CFAO South Africa is a leader in South Africa's mobility market,” remarked Andrew Velleman, CEO of CFAO South Africa. “This joint venture further strengthens CFAO Group's commitment to expansion in South Africa. We are excited about the significant positive impact and value this new plant will bring to the automotive industry and the broader economy. We will continue to drive innovation, growth, transformation, and sustainability in the automotive sector."
“The inclusion of Ogihara South Africa in our local manufacturing ecosystem will not only create new job opportunities but also enhance our capabilities in producing high-quality body parts for the automotive industry," said Andrew Kirby, president and CEO of Toyota South Africa. "This joint venture marks a significant step towards our LVA (Local Value Addition) improvement strategy by localising the production of these critical components.”
A boost for South African automotive manufacturing
L to R: Wayne Bowyer, managing director of Toyota Tsusho Africa; Andrew Velleman, CEO of CFAO South Africa; Andrew Kirby, president and CEO of Toyota South Africa; Rev Musa Zondi, KZN MEC for Economic Development, Tourism, and Environmental Affairs; Minister Parks Tau, SA Minister of Trade, Industry and Competition; Hiroshi Morita, CEO of Ogihara Thailand; and Nigel Ward, Toyota EVP: manufacturing and manufacturing support. (Image source: CFAO South Africa)
