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South Africa to Allocate $54.27 Mln to Boost Local EV Production, National Treasury Says

11:26, 13 March 2025

Ekaterina Shilova

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South Africa's 2023 Electric Vehicles White Paper outlines the country's approach to transitioning the production and consumption to EVs while aligning with the ambitious objectives of growing the industry to 1% of global production and increasing local content from the current average of 40% to 60%.

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South Africa will allocate $54.27 million to boost local production of new energy vehicles, batteries, and related manufacturing, the National Treasury said.

The industry expects government incentives will encourage investment in electric vehicle production, supporting South Africa's 2023 plan to transition its automotive industry to include electric vehicles by 2035.

To further support the transition, the treasury plans a regional critical minerals strategy, crucial for EV batteries and solar panels. The $54.27 million will also support industrial development, incentivizing infrastructure investment in automotive and related sectors.

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These incentives aim to enhance local production, improve efficiency, and attract about $1.632 billion in private sector investment.