SPONSORED | StandardBankZA Between 2020 and 2021, the local electric vehicle market has doubled in size, albeit off a small base.
It’s a matter of when, not if, the country will plug into the electric car market, says Standard BankBetween 2020 and 2021, the SA electric vehicle market has doubled in size, albeit off a small base. Picture: 123RF/bevisphoto
Recently, China imposed a mandate on automakers that EVs make up 40% of all sales by 2030. Similar legislation has been implemented in the developed world, with the US mandating 50% EV adoption by 2030 and the UK and EU mandating 100% EV passenger vehicle adoption by 2025. About the author: Justin Thomas is the head of Strategic Alliance at Standard Bank Fleet Management. Picture: SUPPLIED/STANDARD BANK
Considering developments abroad, other considerations locally include what the EV environment will look like in SA and whether — or rather when — widespread adoption of EVs will happen among individuals and business fleets.
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