KAP excited by extended motor-industry support plan
Programme will boost manufacturers of light vehicles and components, says the Stellenbosch company
Government’s extension of the motor industry support programme to 2035 is set to boost diversified industrial group KAP Industrial’s automotive components business, says the Stellenbosch-based company. Last year, the government extended the Automotive Production and Development Programme (APDP), initially introduced in 2013, to 2035 to instil certainty and investor confidence in the local automotive industry. The programme creates an environment for registered light motor vehicle manufacturers to grow production and component manufacturers to grow value addition by offering incentives. “The extension of the APDP to 2035 provides much needed clarity and stability to the automotive sector, which management believes will lead to growth opportunities for the (automotive components) division,” KAP said.
KAP’s automotive business manufactures a range of vehicle retail accessories under the Maxe, Auto Armor and Rhino Linings brands as well as components used in the assembly of new ve...