5 days ago
Ramaphosa hails BMW's R4. 2bn EV investment as vote of confidence in SA economy
President Cyril Ramaphosa at addressed a launch BMW plant in Rosslyn, Pretoria on Thursday.
Image: ANC/X
President Cyril Ramaphosa has lauded BMW's latest investment in its Rosslyn plant as a "powerful symbol of trust" in South Africa's industrial future, calling it a major step in the country's green industrial revolution.
Speaking at the plant in Pretoria on Thursday, Ramaphosa celebrated the start of local production of the BMW X3 Plug-in Hybrid.
The president praised the German carmaker's R4.2 billion investment, saying it underscored South Africa's growing role as a competitive global hub for electric vehicle (EV) manufacturing.
'BMW's roots may be in Bavaria, but its beating heart is South African. You are building more than cars. You are building a legacy of excellence, inclusion and hope,' he said.
The automotive sector contributes nearly 5% to GDP and supports over half a million jobs.
As global markets shift toward clean mobility, Ramaphosa said South Africa must seize the opportunity to drive localisation, scale EV innovation, and deepen value chains through critical mineral beneficiation.
'We are finalising incentives for battery cell localisation, EV components, and clean mobility,' Ramaphosa said.
'South Africa is perfectly positioned to lead the mobility of the future.'
Ramaphosa urged BMW and other industry players to expand their footprint ahead of the upcoming South Africa Investment Conference, noting the urgency of diversifying export markets in light of rising US tariffs.
Ramaphosa also commended BMW's long-standing commitment to skills development.
The Rosslyn Training Academy has trained over 2,000 artisans since 1978, with 300 new apprentices each year. BMW's Youth Employment Service programme has placed over 3,500 young people in jobs nationwide.
'BMW's investment is not only economic — it's transformational,' Ramaphosa said.
With BMW celebrating over 50 years in South Africa, the President called the latest milestone a testament to resilient partnerships between business, labour, and government.
'As a GNU, we welcome your role in inclusive growth, transformation, and job creation,' he stated.
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