Vehicle and asset finance provider, WesBank, yesterday announced the formation of a strategic alliance with GAC Motor South Africa as part of the newly-launched vehicle importer’s go-to-market strategy.
At the heart of the partnership is the formation of GAC Motor Finance, a product of WesBank, which now including GAC Motor dealers to provide clients with a suite of vehicle financing products.
The partnership also includes floorplan finance, facilitating the wholesale acquisition of new and used vehicles by GAC Motor dealers.
WesBank CEO, Ghana Msibi said the two brands’ passion for innovation has the potential to further liberalise mobility for car buyers in South Africa.
“As a bank that’s committed to enabling South Africans from all walks of life to attain their aspirations for mobility, WesBank’s partnership with GAC Motor South Africa is a perfect fit, allowing car buyers in South Africa easy access to vehicles in the GAC Motor portfolio that combine quality, innovation and cutting-edge design across a premium, yet affordable lineup,” Msibi said.
Signed at the start of Transport Month in October, the agreement assures GAC Motor South Africa access to WesBank’s national network of agents and marketing resources to support the successful introduction of models such as the EMKOO and EMZOOM to the local market.
These will be followed by the introduce the Aion Y, a five-seater full-electric crossover that promises up to 490km of range, which should bode well for South Africans whose transition to electric mobility has been hampered by the range anxiety associated with earlier full-electric cars.
Leslie Ramsoomar, managing director of GAC Motor South Africa and its import partner Salvador Caetano SA, said it was a privilege to partner with WesBank in establishing the GAC Motor brand in South Africa.
“It’s always easy to join an existing venture but putting faith in a start-up is the type of commitment that we’ve come to expect from WesBank, and one that we truly appreciate,” Ramsoomar said.
BUSINESS REPORT