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TimesLIVE
22-07-2025
- Automotive
- TimesLIVE
BYD to delay production at new Hungarian plant, build fewer EVs
China's BYD will delay mass production at its new electric vehicle factory in Hungary until 2026 and will run the plant at below capacity for at least the first two years, two sources familiar with the matter said. China's No 1 carmaker will also start making cars earlier than expected at a new plant in Turkey where labour costs are lower, and will vastly exceed its announced production plans, one source said. Shifting production away from Hungary in favour of Turkey would be a setback for the EU, which has been hoping its tariffs on EVs made in China would bring in Chinese investments and well-paid manufacturing jobs. BYD's €4bn (R82,570,960,000) plant in Szeged in southern Hungary will start mass production in 2026, but only make a few tens of thousands of vehicles over the entire year, the sources said. That would be a fraction of the plant's initial production capacity of 150,000 vehicles. It should eventually have a maximum capacity of 300,000 cars per year. A third source confirmed the slower 2026 start-up. BYD has said it will launch operations at Szeged in October, but has not said publicly when mass production will start. Production at Szeged is due to increase in 2027, but will be below planned capacity, the sources said. The carmaker's $1bn (R17,644,850,100) plant in Turkey, which had been slated to start production at the end of 2026 with an annual capacity of 150,000 cars, will make more cars than the Hungarian plant next year, one source said. Production at the plant in Manisa, western Turkey, will far exceed 150,000 cars in 2027 and BYD will greatly increase output again in 2028, the source said. BYD did not respond to requests for comment. The sources spoke on condition of anonymity because they were not authorised to discuss BYD's production plans publicly. BYD is building the plant in Hungary to sell cars in Europe tariff free. All the cars it sells in Europe are made in China, and subject to EU anti-subsidy tariffs on Chinese-made EV imports on top of the standard 10% duty. In BYD's case, the total tariff is 27%. Many cars made at the new plant in Turkey will also be destined for Europe and face no tariffs when exported to the EU. A shift toward cheaper production in Turkey would highlight the challenge for Chinese carmakers that want to build cars in Europe to avoid punitive tariffs, but balk at the region's higher wages and energy costs. Under right-wing Prime Minister Viktor Orban, Hungary, which will be the headquarters for BYD's European operations, has become an important trade and investment partner for China. Turkey has long served as a low-cost manufacturing hub for major carmakers including Toyota, Stellantis, Ford , Hyundai and Renault. In March, the Turkish government said China's Chery will invest $1bn in a plant with an annual production capacity of 200,000 vehicles.
IOL News
27-06-2025
- Business
- IOL News
Businessman fined R82,000 for tax evasion
Errant taxpayer, Roelof Serdyn, was convicted of one count of failure to submit an Income Tax return, eight counts of failure to submit Pay as You Earn (EMP201) returns, and 32 counts of failure to submit VAT returns. Image: Ziphozonke Lushaba / Independent Newspapers Businessman and errant taxpayer, Roelof Serdyn, was fined R82,000 for failing to submit Income Tax returns, Pay as You Earn returns, and Value Added Tax returns to the South African Revenue Service (SARS) between 2018 and 2024. National Prosecuting Authority (NPA) spokesperson, Eric Ntabazalila, said Serdyn - sentenced in the Bellville Magistrate's Court this week - was convicted of one count of failure to submit an Income Tax return, eight counts of failure to submit Pay as You Earn (EMP201) returns, and 32 counts of failure to submit VAT returns - all in contravention of the Tax Administration Act. Immediately after his sentence, Serdyn paid R42,000, and the balance of R40,000 was paid in monthly instalments of R5,000. Ntabazalila confirmed that a further cumulative amount of R164,000 or, in the alternative, 246 months imprisonment was suspended for five years on certain conditions. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading 'Serdyn was charged alongside his company, Akvaba (Pty) Ltd, but the charges against the company were withdrawn after its liquidation. The court heard that Akvaba (Pty) Ltd was registered as a taxpayer and was therefore obligated to comply with all tax obligations towards the SARS. 'Serdyn was the representative taxpayer, employer, and representative vendor of Akvaba (Pty) Ltd. He was responsible for the company's tax affairs, which included the submission of all tax returns (IT, PAYE, and VAT) of Akvaba (Pty) Ltd. 'The accused ignored the reminders and final demand notices issued by SARS. When he was summoned to appear in court, the returns were submitted,' said Ntabazalila. In the lead up to the annual tax season opening, Ntabazalila said the case serves as a warning to persons acting as representative vendors, representative employers, and public officers who serve in these positions. 'These duties and responsibilities should not be taken lightly as non-compliance with such duties will have serious consequences for such incumbents in their capacity,' said Ntabazalila. The sentence in this case follows closely on the cases of J W Lubbe (and Jacor Transport Holding), who was sentenced to a fine of R148,000 on June 11, 2025, and H L van der Westhuizen (and Tempo Konstruksie CC), who was sentenced to a fine of R126,000 on May 30, 2025. In a statement, SARS said this tax season marks an important period where income tax returns of the majority of taxpayers are automatically assessed. The category of taxpayers who are automatically assessed will receive notification from SARS from July 7 to 20, 2025. Taxpayers who do not receive notifications from SARS that they are automatically assessed are encouraged to submit their tax returns in a timely and accurate manner from July 21, 2025. The Filing Season will close on October 20, 2025, for non-provisional individuals. SARS urged all taxpayers to prepare their documentation early to check their assessments and to avoid last-minute delays for those who must submit an income return. 'In line with our strategic objective to make it easy for taxpayers to comply, we have identified a large segment of non-provisional and provisional taxpayers who receives income from one or more sources from formal and other forms of employment and whose tax affairs are not complicated have been selected to be automatically assessed,' SARS said. Taxpayers can access their auto-assessed income tax returns through any of SARS's channels, such as the SARS MobiApp or SARS eFiling, to review and verify the completeness and accuracy of the information that resulted in the auto assessment. For more information, visit the SARS website.
The Citizen
15-06-2025
- The Citizen
Operation Shanela nets 151 suspects
SEDIBENG. – A powerful, coordinated police operation delivered significant results in the fight against crime. Police spokesperson Sergeant Thembeka Maxambela said Operation Shanela 2, conducted on May 29 in Heidelberg and Ratanda under the Sedibeng District, resulted in multiple arrests, numerous traffic fines, and the recovery of illicit goods. She added that this major effort follows a pre-Shanela detective operation conducted from May 28 to 29, where 147 cases were attended to, resulting in 123 arrests across various crime categories, including serious contact crimes and gender-based violence (GBV). * Total cases attended: 147 * Total arrests: 123 Heidelberg SAPS successes: Seven arrests for unlicensed firearm, theft, and shoplifting Traffic Fines Issued: 68 Total Value: R82 950 Common Offences: Driving without a license, expired license discs, PRDP violations, defective windscreens, and overloading. The combined effect of the pre-Shanela detective operation and Operation Shanela 2 resulted in 151 arrests. 'The results of this operation are a clear signal to criminals: Sedibeng is not a safe haven. We remain relentless in our pursuit of law and order. We applaud the coordinated efforts of our SAPS units, traffic officials, wardens, and community partners.' At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
19-05-2025
- Automotive
- IOL News
Nissan considering closing its South African plant, Japanese source says
The Nissan Navara is currently the only product built at the Rosslyn facility. Nissan dropped a bombshell on its workforce last week with the announcement that it planned to expand its 'turnaround plan' to include more plant closures and layoffs than previously envisaged. Following an annual net loss of 671 billion yen (R82 billion), the company announced on Tuesday that it planned to close seven of its 17 factories by fiscal year 2027, while reducing the workforce by around 20,000. Unfortunately, it appears that Nissan's Rosslyn plant in Gauteng could be a casualty of this significant restructure, if the latest international reports are anything to go by. International news agency Reuters, citing a single unnamed source, reported over the weekend that the South African plant was among those being considered for closure by the parent company in Japan. Also facing possible closure are Nissan's plants in India and Argentina, one of its Mexican factories and two Japanese facilities, with the latter also mentioned by a second source. However, Nissan said in a statement that these reports, on the specific plant closures, were speculative and not based on any official information from the company. 'At this time, we will not be providing further comments on this matter," Nissan said. 'We are committed to maintaining transparency with our stakeholders and will communicate any relevant updates as necessary." However, the South African plant does appear to be in a vulnerable position in terms of its volumes, with current production levels averaging around 1,200 units per month in the first four months of 2025. This includes production of the Navara single cab and double cab bakkies for South African consumption and exports into Africa. The Navara is currently the only vehicle produced at Rosslyn, following the discontinuation of the NP200 compact bakkie in 2024, after its Russian-developed replacement was cancelled due to the war with Ukraine. Around that time, a Nissan SA representative told Moneyweb that the company was attempting to source another successor to the NP200 and was also investigating a third model for the Rosslyn plant. Nissan's more aggressive international restructure puts all of these projects in jeopardy, although it's worth keeping in mind that no final decisions appear to have been made with regard to plant closures. Get your news on the go, click here to join the IOL News WhatsApp channel IOL
IOL News
14-05-2025
- Automotive
- IOL News
Nissan to close 40% of its factories in shock restructure: will SA's Rosslyn plant survive?
Nissan is planning to reduce its global production network by 40%. Image: Richard A Brooks / AFP Nissan is set to implement an even more severe turnaround plan than previously envisaged, with seven factories now facing closure and 20,000 jobs on the line. This follows an annual net loss of 671 billion yen (R82 billion) announced on Tuesday for the financial year to March 2025. The company announced on the same day that it planned to reduce the number of vehicle production plants in its global network from 17 to 10, by fiscal year 2027, while also reducing the workforce by 20,000. It had previously planned to cut around 9,000 jobs. Further to that, Nisan said it plans to streamline its powertrain plants and cancel its planned Lithium Iron Phosphate battery plant in Kyushu, Japan. "We wouldn't be doing this if it was not necessary to survive," said Nissan's newly appointed CEO Ivan Espinosa. "In the face of challenging FY24 performance and rising variable costs, compounded by an uncertain environment, we must prioritise self-improvement with greater urgency and speed, aiming for profitability that relies less on volume,' he added. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ But where does this leave Nissan South Africa's Rosslyn plant, located outside Pretoria? Nissan has not named the seven plants which face closure, although its Indian and UK facilities appear to be safe, given recently announced production plans for those. IOL has approached Nissan South Africa for comment, but a response had not been received at the time of writing. Company spokespersons have previously stated that the local plant was a key hub for its expansion into Africa. However, it currently only produces the Navara bakkie in double cab and single cab formats, and production volumes are significantly lower than in previous years, following the 2024 discontinuation of the NP200 compact bakkie and the NP300 in 2021. Locally-built Nissan Navara range. Image: Supplied To put Rosslyn's current production numbers into perspective, Nissan sold just 1838 locally produced Navaras in the first four months of 2025, and exported 3,101 units. That's an average of just 1,234 units per month in total. Ford South Africa, which also produces just a single bakkie at its Silverton plant in Pretoria, sold 7,933 Rangers to local customers during that same period and exported 20,244 units. SA-built Navaras are currently exported into Africa, while Ford's Ranger is shipped to over 100 international markets, including Europe. Furthermore, Nissan's local market share has more than halved in the past seven years, from an annual volume of 51,825 units in 2017 (including imports) to just 22,286 units in 2024. Following the discontinuation of the NP200 in 2024, whose Russian-developed replacement was cancelled due to the war with Ukraine, Nissan South Africa has been looking for ways to expand production at the plant. ALSO READ: Nissan opens up about aborted NP200 replacement In March 2024, a company representative told Moneyweb that the local division was aiming to source another successor to the NP200, and was also investigating a third model for the Rosslyn plant. It remains to be seen whether any of these projects will go ahead, in light of Nissan's new plan to shut seven plants. Internationally, Nissan plans to lean more heavily on its alliance partners Renault and Mitsubishi, the latter providing the basis for the Navara replacement. Nissan also plans to use on Renault's Indian division to launch new MPV and SUV models in 2026 and 2027. Having access to more affordable products from India, could certainly improve Nissan South Africa's fortunes as an importer. The Magnite compact SUV is already the division's best seller. But whether Nissan SA still has a future as a manufacturer is anyone's guess. IOL
