The People-carrier Automotive Investment Scheme is designed to stimulate growth in the people-carrier vehicles industry through investment in new and/or replacement models and components.
Beneficiaries
Semi knocked down and completely knocked down automotive manufacturers of people-carriers and manufacturers of components of people-carriers.
Benefits
Semi Knocked Down (SKD) Vehicle Assemblers
SKD investments that start production from 01 January 2012 to 31 March 2015 may qualify for a grant of 20% of the qualifying investment costs.
For an additional 5% the project must demonstrate that the investment will result in base year employment levels being maintained throughout the incentive period and during the model phase out period.
No new applications with a start of production (SOP) after 31 March 2015 will be considered for the People-carrier Automotive Investment Scheme grant.
Complete Knocked Down (CKD) Vehicle Assemblers
CKD investments that start production from 01 January 2012 to 31 March 2015, may qualify for a grant of 25% of the qualifying investment costs.
CKD investments that start production from 01 April 2015 onwards, may qualify for a grant of 20%.
For an additional 5% the project must demonstrate that the investment will result in base year employment levels being maintained throughout the incentive period and during the model phase out period.
For a second additional 5% bonus grant (cumulative 10%) the project must meet the set economic benefit criteria’s
Component Manufacturers
Component manufacturers may qualify for a grant of 25% of the qualifying investment costs. For an additional 5% the project must demonstrate that the investment will result in base year employment levels being maintained throughout the incentive period and achieve at least two of the set economic benefit requirements. For a second additional 5% (cumulative 10%) People-carrier Automotive Investment Scheme grant, the project must meet the set economic benefit criteria.
Going forward, Business Grants and Dream Team Capital can play an even more important role in the co-ordination, integration and reporting on the consolidated performance of the various fragmented energy efficiency initiatives in the country. Contact us today for professional assistance in streamlining your application for the People-carrier Automotive Investment Scheme.
