One of the top Chinese automotive producers, FAW Group Corporation, announced that it will expand its business to South Africa, where it plans to open a truck production site, as Xinhua reported.
The company has signed a letter of intent with the China-Africa Development Fund, that states that the two entities will co-invest in the development of a vehicle production project in Africa. According to the company, the new development will produce mid-size trucks. However, exact details, such as… (read more)