{"id":254383,"date":"2018-06-26T17:08:41","date_gmt":"2018-06-26T15:08:41","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=254383"},"modified":"2018-06-26T17:08:41","modified_gmt":"2018-06-26T15:08:41","slug":"daimler-to-invest-700-million-in-mercedes-south-africa-plant","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/254383\/daimler-to-invest-700-million-in-mercedes-south-africa-plant\/","title":{"rendered":"Daimler to invest $700 million in Mercedes South Africa plant"},"content":{"rendered":"<p>Mercedes-Benz AG will invest 600 million euros ($700 million) in expanding its South African plant, affirming its commitment to the country as president Cyril Ramaphosa strives to revive the economy.<\/p>\n<p>The unit of Germany\u2019s Daimler AG will expand the facility in the coastal city of East London to accommodate production of the new generation of C-Class models, the automaker said in an emailed statement Tuesday.<\/p>\n<p>The announcement came during a visit by Ramaphosa, who is seeking to lure $100 billion in new investment in the economy as a whole.<\/p>\n<p>The auto industry accounts for about 7% of South Africa\u2019s gross domestic product and has been one of the few highlights of a period of sluggish growth.<\/p>\n<p>Toyota Motor Corp, Ford Motor Co and BMW AG are also building cars in the country, helped by a state-incentive plan.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/motoring\/250353\/mercedes-is-trialing-a-subscription-service-that-allows-you-to-swap-cars-as-often-as-you-like-for-r14300-a-month\/\" target=\"_blank\" rel=\"noopener\">Mercedes is trialing a subscription service that allows you to swap cars as often as you like for R14,300 a month<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mercedes-Benz AG will invest 600 million euros ($700 million) in expanding its South African plant.<\/p>\n","protected":false},"author":59,"featured_media":180983,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11119],"tags":[6612,26,9130],"class_list":["post-254383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","tag-daimler","tag-headline","tag-mercedes-benz"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/254383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=254383"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/254383\/revisions"}],"predecessor-version":[{"id":254395,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/254383\/revisions\/254395"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/180983"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=254383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=254383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=254383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}