EDC – Automotive Investment Scheme
The Automotive Investment Scheme (AIS) is an investment based, cash incentive, available to light motor vehicle automotive component manufacturers or tooling manufacturers and light motor vehicle manufacturers. Qualifying cost against which benefits may be claimed include:
- Both used and new plant, equipment and tooling
- Improvements and additions to owned buildings.
In addition to these capitalised costs, the following costs related to competitiveness improvement may also be incentivised:
- Process improvements
- Conformity assessments
- Product improvements
- Skills development Resource efficiency
- Information Technology systems
Qualifying costs may be incentivised at 20% to 35%. Application is required to be submitted at least 120 days (Motor Vehicle Manufactures) and 90 days (Component Manufactures) prior to the commissioning of the qualifying investment.
Are you interested in the Automotive Investment Scheme (AIS)? Contact our office in Port Elizabeth.