The South African electric vehicle (EV) market is experiencing a notable surge, with projections indicating a compound annual growth rate (CAGR) exceeding 18% from 2025 to 2035. This growth is driven by increasing consumer demand, supportive government policies, and substantial investments in charging infrastructure .

Key Market Drivers:

Rising Consumer Adoption: In the first quarter of 2024, South Africa witnessed the sale of 3,042 new energy vehicles (NEVs), marking an impressive 83% increase compared to the same period in 2023. Hybrid vehicles led the market with 2,574 units sold, followed by 330 fully electric vehicles and 138 plug-in hybrids .
Government Initiatives: The Department of Trade, Industry, and Competition (dtic) released the Electric Vehicles White Paper in December 2023, outlining strategies to promote EV manufacturing and adoption. A key objective is for electric vehicles to constitute 20% of new car sales by 2025 .
Infrastructure Development: Significant investments are being made to expand the EV charging network. Mercedes-Benz announced a R40 million investment to establish 127 charging stations across the country. Additionally, the Free State provincial government partnered with Zero Carbon Charge to set up 120 charging stations, enhancing the accessibility of EV charging facilities .
Industry Developments:

Local Manufacturing: BMW Group South Africa commenced production of the BMW X3 plug-in hybrid at its Plant Rosslyn facility in October 2024, signaling a commitment to local EV manufacturing .
New Model Launches: Audi unveiled the Q6 e-tron in March 2024, featuring a 100 kWh lithium-ion battery with a 625 km driving range. The vehicle is set to launch in the second quarter of 2025, offering consumers advanced EV options .
Challenges and Outlook:

While the South African EV market shows promising growth, challenges such as limited charging infrastructure and high vehicle costs persist. However, ongoing investments and supportive policies are expected to mitigate these issues over time. The integration of renewable energy sources into the charging infrastructure further enhances the sustainability of EV adoption in the region .

For a comprehensive analysis of the South African electric vehicle market, including detailed trends and forecasts, refer to the full report by Mordor Intelligence

Read full report@ https://www.mordorintelligence.com/industry-reports/africa-electric-vehicle-market

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