Impact of the budget speech on the future of electric vehicles in South Africa

The Volvo XC 40 P6 Recharge plugged in and charging.

The Volvo XC 40 P6 Recharge plugged in and charging.

The national government plans to produce electric vehicles to preserve South Africa’s new vehicle export market.

Plans to transition to electric vehicle (EV) production to preserve South Africa’s vehicle export market were briefly covered in the 2024 Budget Speech. SA primarily manufactures internal combustion engine (ICE) vehicles, with 75% of the country’s new vehicle exports heading to the UK and European Union (EU). However, these markets have committed to banning the sale of new fossil-fuelled vehicles in the future, in some countries, as early as 2035, meaning the loss of crucial export markets. 

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.

Source link

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *