From Creamer Media in Johannesburg, this is the Real Economy Report. Trade and Industry Minister Dr Rob Davies, in collaboration with the Department of Environmental Affairs, has launched the Electric Vehicle Industry Road Map. Natalie Greve attended the programme launch earlier this month to find out more.
The EV industry road map will, through the application of several strategic interventions, look to develop a South African EV industry by supporting the local production of EVs and the components thereof. Key interventions will include local demand stimulation for EVs through the development of a variety of tax incentives, such as a personal income tax rebate and reduced EV registration costs.
Trade and Industry Minister Dr Rob Davies
Davies added that government would also drive additional investment in local EV manufacturing operations through amendments to the existing Automotive Production and Development Programme, which currently provided original-equipment manufacturers which produced more than 50 000 units with a 20% return on projected investment in new plant and machinery.
Shannon de Ryhove:
Other news making headlines this week: The Free Market Foundation says the new Licensing Bill will give officials too much power; And, the South African tool-making sector is set to get a boost.
Free Market Foundation executive director Leon Louw says that government’s proposed Licensing of Business Bill will provide local government officials with unconstrained discretionary power, creating massive bureaucratic empires and eroding rule of law.
Free Market Foundation executive director Leon Louw
The Tooling Association of South Africa and the Gauteng Tooling Initiative are “on the verge” of launching a “formal cluster” aimed at providing the South African tooling sector with access to large automotive tooling contracts.
Gauteng Tooling Initiative CEO Henk Snyman
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.