Nedbank CIB welcomes the Minister of Finance’s announcement on electric vehicles
22 February 2024 | Economy | Budget 2024 | Thabang Mahlangu, Sector Lead: Automative, Transport, Freight and Logistics at Nedbank CIB
Thabang Mahlangu
Nedbank CIB welcomes the Minister of Finance’s announcement of an incentive framework that encourages Original Equipment Manufacturers (OEMs) to invest in electric vehicles (EVs) manufacturing, as the President had outlined during the State of the Nation Address (SONA) 2024. The key benefits are immense; especially the positive effect on fiscal export earnings, job creation, skills development in new technologies, and consumer choice, which promotes sustainable mobility in the South African Automotive Sector.
