South Africa to Invest R1-Billion in Local Electric Vehicle Production
South Africa will invest R1-billion to support local EV and battery production. The initiative aims to boost investment and facilitate a shift from internal combustion engine vehicles to electric vehicles by 2035. The program supports critical minerals strategies needed for battery production, attracting additional investment.
South Africa has announced a substantial investment of R1-billion to promote local production of electric vehicles (EVs) and batteries, along with related manufacturing initiatives, according to the national treasury. This country currently stands as the largest automotive manufacturing hub in sub-Saharan Africa, featuring brands such as Toyota, Ford, Isuzu, Volkswagen, and Mercedes.
In conclusion, South Africa is making significant strides towards promoting local electric vehicle production through a R1-billion investment. This initiative aims to foster investment from manufacturers, enhance competitiveness, and ensure a smooth transition to a mixed automotive production model by 2035, aligning with the global energy transition.
Original Source: techcentral.co.za
