President Ramaphosa To Attend Start Of Production Of BMW's New X3 Plug-In Hybrid Vehicle

President Cyril Ramaphosa is set to attend the start of production event of BMW's new generation X3 plug in hybrid model vehicle on Oct. 11, Presidential Spokesperson Vincent Magwenya said.

"The President noted with appreciation BMW's long history in South Africa and its footprint that has grown significantly over time. BMW's investment in its Plant in Rosslyn dates back five decades," Magwenya said at a media briefing on Wednesday, SA News reported.

BMW announced that it would invest R4.2 billion to upgrade its Rosslyn Plant in Tshwane, Gauteng, to build this new vehicle at last year's South Africa Investment Conference. Now that the investment is complete, the president will be able to see the new, high-tech plant at the Start of Production Event.

"The President is pleased that this vehicle will be exclusively built here in South Africa at the BMW Plant here in Rosslyn for the rest of the world," Magwenya said.

Magwenya noted that BMW's operations in South Africa have created around 95,000 direct and indirect jobs. He explained that BMW's investment aligns with South Africa's goals for job creation, increased industrial production, export income, transformation and long-term sustainability.

Last year in October, Ramaphosa highlighted the importance of green hydrogen, particularly its potential to create millions of jobs and increase South Africa's gross domestic product (GDP) by 2050.

He said South Africa "has deep capital markets with world-class conditions for generating renewable energy through solar and wind power, which are key drivers of the production of green hydrogen," thanking all the partners and sponsors including BMW.

Last month, Minister Khumbudzo Ntshavheni double-downed the government's focus on building an inclusive economy that creates jobs after the official unemployment rate rose to 33.5% in the second quarter of 2024, up from 32.9% in the first quarter.

According to the minister, employment fell by 92,000 to 16.7 million, while the number of unemployed people increased by 158,000 to 8.4 million in the same period.

The biggest job losses were in the Trade sector (110,000), Agriculture (45,000), and Private Households (18,000). However, the largest job gains were seen in Manufacturing (49,000) and Community and Social Services (36,000).