State to help vehicle manufacturers fund transition to electric cars

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The automotive industry accounted for 4.9% of South Africa’s GDP and 12.4% of exports last year.

Deputy Finance Minister David Masondo warned that AI and market changes could lead to job losses in the industry.

South Africa will provide fiscal support to the automotive industry to help it transition to producing electric vehicles , Deputy Finance Minister David Masondo said.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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