Business / Companies
Willowvale Motor Industries reopens
28 Mar 2017 at 06:49hrs | Views
Willowvale Motor Industries (WMI), which had been shut for the last five years, officially resumed operations yesterday following a joint venture with a Chinese firm to assemble locally a new range of pick-up trucks from semi-knocked down kits.
The deal will see WMI assembling 3 000 units in three years, which will create 5 000 jobs and generate millions in taxes, with $1,3 million in Value Added Tax expected to be generated this year alone.
The partnership has resulted in the formation of Beiqi Zimbabwe, a joint venture between China's fifth largest car manufacturer, the Beijing Automobile International Corporation (BAIC), WMI and Astol Motors.
Beiqi Zimbabwe is responsible for procuring the semi-knocked-down kits from BAIC in China, while WMI will assemble the vehicles on a contract basis and Astol Motors, together with Amtec, will sell the vehicles and offer after service support.
Source - the herald