In the 2021 budget presented in February, the National Treasury said ways to curb the wage bill could include freezing salaries for the next three years, headcount reductions and changing or abolishing some benefits for civil servants.
Those proposals further strained relations with unions, after a court battle over the government's failure to raise salaries last year.
The company said the European market staged a strong recovery in the second half of 2020, jumping 40 percent compared with the first six months when governments imposed strict lockdowns to try to control the first wave of Covid-19.
The 50/50 tie-up, which was delayed by the Covid-19 pandemic, is seen as crucial for the two groups to undertake the investment needed to transition to clean car technology.