Chinese automakers step up push into South Africa's EV and pickup truck markets

Industry
โดย Reuters·CNZA·Read original
Summary · why it matters

Chinese automakers showcased a range of electric vehicles (EVs), hybrids, and pickup trucks at South Africa's biggest auto show, the WesBank Festival of Motoring, aiming to tap into growing demand for electric vehicles and challenge established rivals in the fiercely competitive pickup truck market. Changan Automobile and its partner Jameel Motors South Africa unveiled the extended-range EV Deepal S05 and the hybrid SUV Changan UNI-S. Dongfeng Motor's distributor E Auto Motor introduced the extended-range crossover Forthing Friday, the pure electric Friday, and the Chinese brand Kaiyi. BAIC unveiled its premium new energy vehicle ARCFOX, starting with the small electric SUV T1, which is set to go on sale in October. Meanwhile, Geely Automobile and Chery Automobile are entering the pickup truck market, where Toyota Motor, Ford Motor, and Isuzu Motors have long held sway, with Geely launching the BEV pickup truck Radar. Robert Gwengwe, CEO of WesBank, a unit of South African financial giant FirstRand Bank, said about 40% of the new cars financed by the bank last month were Chinese, a sharp rise from 0.01% in 2016.

Impact on stocks 7

Electrification & Mobility± Mixed · 5 stocks
Geely Automobile Holdings Ltd
0175
▲ PositiveDemandrelevance

Geely is launching the BEV pickup truck Radar to enter South Africa's pickup market, expanding its product reach.

Chery Automobile Co Ltd
9973
▲ PositiveDemandrelevance

Chery is entering South Africa's pickup truck market, a new product segment for the company.

Isuzu Motors Limited
7202
▼ NegativeCompetitionrelevance

Geely and Chery are entering the pickup truck market where Isuzu has long held sway, intensifying competition.

Toyota Motor Corp.
7203
▼ NegativeCompetitionrelevance

Chinese automakers are challenging Toyota's long-held dominance in South Africa's pickup truck market.

Ford Motor Company
F
▼ NegativeCompetitionrelevance

Chinese automakers like Geely and Chery are entering South Africa's pickup market, directly challenging Ford's long-held dominance.

Others▲ · 2 stocks
Dongfeng Automobile Co Ltd
600006
▲ PositiveDemandrelevance

Dongfeng's distributor introduced the Forthing Friday and Kaiyi models at South Africa's auto show, expanding its EV lineup.

Theme Impact 2

Off-coverage companies 5

北京汽车集团有限公司Private▲ Positive
Technologyrelevance

BAIC unveiled its premium ARCFOX new energy vehicle, starting with the electric SUV T1 going on sale in October.

Abdul Latif Jameel MotorsPrivate▲ Positive
Demandrelevance

Jameel Motors South Africa unveiled Changan's Deepal S05 and UNI-S, expanding its EV/hybrid lineup in South Africa.

E-Auto MotorsPrivate± Mixed
relevance

FirstRand LimitedPrivate± Mixed
relevance

WesBankPrivate± Mixed
relevance

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