Chinese based automotive design and manufacturing company, SAIC Motor Corporation Ltd., is moving to Tunisia as they signed a deal with Tunisian firm, Meninx Holding to set up a plant in the country to serve African and European markets.
The deal was sealed during the Forum on China-Africa Cooperation (FOCAC) in Pekin and will see the auto company specialise in the production of Morris Garage (MG) branded cars.
Meninx Holding has distributed MG cars in Tunisia under the leadership of Mehdi Tamarziste over the years and will now act as SAIC’s partner in Africa.
In 2017, SAIC Motor sold 6.6 million cars and is currently the leading car manufacturer in China. It owns 23% of the country’s market thanks to its brands Roewe and MG as well as joint ventures with Volkswagen and General Motors.
According to SAIC, the new deal forms part of its strategic expansion agenda to become a leading player in the world automobile industry. Meanwhile, in March 2018, it had announced that it would set an assembly plant in Egypt.
More Tech Stories:
- China’s Inspur Group Picks Ghana For Its Regional Headquarters in West Africa
- South African Based Company, Harith Invests $1 billion into Malawi Fibre Network
- Two African Fintech Start-up Selected for 2018 FinTech Hive
- Livestock Wealth, Click2Sure and Two Others Selected for AlphaCode Accelerate Programme
- Nigeria’s Internet Service Start-up, Tizeti Raises $3 million Fund, Set to Expand to Ghana