South Africa's acceptance of investments related to electric vehicles from March 2026 will be a success according to the Minster of Finance.
Government has approved investments for electric cars and focus from March 2026.The Minister of Finance has outlined some key strategies to ensure it remains globally competitive.addressed several automotive sector-related topics including the adoption of EV manufacture, mitigating gross production losses due to load shedding and ameliorating the exporting process at ports with private sector partnerships.
Mabasa continued, saying, “We welcome government’s decision to reallocate funds to specifically support the transition towards our broader evolution towards new energy vehicles because this demonstrates a commitment to provide the necessary fiscal support for the development and adoption of EVs”.The investment allowance for EVs is highlighted as a complementary initiative to the existing Automotive Production Development Programme .
Critical for this is government’s engagement with industry on how locally produced EVs can emerge as globally competitive in comparison to predominant battery production locations like China, Japan and South Korea. While government’s commitment is evident and welcomed, it is important to recognise the scale of investments required by industry. This funding should be seen as a significant initial step, withIt is also important to note that the 2026 implementation rollout date for the investment allowance does not cover the pre-investment cycles before some of the production starts.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa’s minimum wage vs the world – with another big hike hitting in MarchThis is how South Africa’s National Minimum Wage compares to other countries around the world.
Read more »
On This Day in South Africa: What Happened on 9 MarchWe look back on this day in South African - and world - history, remembering the people and events that shaped the world we live in today.
Read more »
Latest News and Headlines in South Africa on 11 March 2024Government schools to break for March holidays, load shedding schedule updated, water outage in Johannesburg, looming heatwave, and Lotto jackpot winner.
Read more »
South Africa: Community Health Workers March in East LondonThey want to be in-sourced and they want proper personal protective equipment
Read more »
South Africa Emerges as America's Largest Trading Partner in AfricaSouth Africa has become America’s largest trading partner in Africa, with over $20-billion of two-way trade of goods. More than 600 American businesses now operate in South Africa. Africa's population is expected to grow significantly by 2050, presenting opportunities for investment. US Secretary of the Treasury Janet Yellen visited South Africa to strengthen ties between the two countries and continents.
Read more »
Former South African Striker Marks Maponyane Highlights Striker Crisis in South AfricaMarks 'Go Man Go' Maponyane, a former Bafana Bafana, Kaizer Chiefs, and Orlando Pirates striker, expresses concern over the lack of goals from strikers in the Premier Soccer League. He calls on coaches to address the issue and discusses the decline of South African strikers in recent years.
Read more »