China's Chery to Buy Nissan's Plant in South Africa
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Chery Automobile's South African subsidiary is set to acquire Nissan's Rosslyn plant, including land and assets, pending regulatory approvals. This move aims to secure employment for Nissan's workforce, with most employees offered positions at Chery. The sale is part of Nissan's global restructuring plan, which includes job cuts and factory reductions. Chery's acquisition enhances its presence in South Africa, where it ranks as the 7th best-selling passenger vehicle brand. The deal aligns with Chery's global expansion strategy, which saw a 7.8% increase in overall sales last year.
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