{"id":55913,"date":"2023-11-02T11:43:00","date_gmt":"2023-11-02T11:43:00","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana"},"modified":"2023-11-02T12:01:30","modified_gmt":"2023-11-02T12:01:30","slug":"sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana","title":{"rendered":"SA electric vehicle market will need domestic demand, says Godongwana"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The South African automotive sector\u2019s ability to grow a sustainable electric vehicle market will depend greatly on the market\u2019s ability to cultivate local demand for hybrid and electric vehicles, says finance minister Enoch Godongwana.<\/p>\n

<\/a>While tabling his medium-term budget policy statement in parliament on Wednesday, Godongwana said the transition to a low-carbon economy should be integrated into a comprehensive green growth strategy and industrialisation plans.\u201cSouth Africa’s traditional trading partners are intensifying their decarbonisation plans. Many countries introduce carbon pricing mechanisms to make emissions more expensive and incentivise emissions reductions,\u201d said Godongwana.<\/p>\n

In the automotive sector, a major exporter and source of employment, the transition to new energy vehicles posed an \u201cexistential threat to South African vehicle production\u201d.<\/p>\n

\u201cThis transition will require balancing domestic market demand, establishing renewable energy-based charging infrastructure, and supporting production,\u201d Godongwana said.<\/p>\n

During a briefing ahead of the medium-term budget policy statement, Godongwana told reporters he believed it would be more sensible to leverage South Africa\u2019s position as an exporter of vehicles to develop a domestic electric vehicle market over time.<\/p>\n

\u201cIf we start with a consumer incentive, we must kiss production in South Africa goodbye. There is competition about the location of investment. Our first approach at the moment is the export market because the majority of cars, in any event, are going to the export market,\u201d he said.<\/p>\n

After the National Treasury\u2019s extensive discussions with South Africa\u2019s seven car manufacturers, he said he was of the view that South Africa will likely see the first hybrid vehicle in 2026.<\/p>\n

He said he was reluctant to look into the consumer market, which was \u201ccurrently sucking in imports\u201d and that South Africa planned on prioritising production for export.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The South African automotive sector\u2019s ability to grow a sustainable electric vehicle market will depend greatly on the market\u2019s ability to cultivate local demand for hybrid and electric vehicles, says finance minister Enoch Godongwana. While tabling his medium-term budget policy statement in parliament on Wednesday, Godongwana said the transition to a low-carbon […]<\/p>\n","protected":false},"author":84,"featured_media":55912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-55913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSA electric vehicle market will need domestic demand, says Godongwana - South Africa<\/title>\n<meta name=\"description\" content=\"The South African automotive sector\u2019s ability to grow a sustainable electric vehicle market will depend greatly on the m ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SA electric vehicle market will need domestic demand, says Godongwana\" \/>\n<meta property=\"og:description\" content=\"The South African automotive sector\u2019s ability to grow a sustainable electric vehicle market will depend greatly on the m ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-02T11:43:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T12:01:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1698913817.367957.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"478\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SA electric vehicle market will need domestic demand, says Godongwana\",\"datePublished\":\"2023-11-02T11:43:00+00:00\",\"dateModified\":\"2023-11-02T12:01:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana\"},\"wordCount\":309,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1698913817.367957.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sa-electric-vehicle-market-will-need-domestic-demand-says-godongwana\",\"name\":\"SA electric vehicle market will need domestic demand, says Godongwana - 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