Business Day Spotlight

PODCAST | The adoption of the EV in South Africa is closer than we think

Mudiwa Gavaza is joined by Shadab Rahil, CEO of Payment24, to discuss EVs in SA

Tesla vehicles at charging stations outside a store in Rocklin, California, the US.
Tesla vehicles at charging stations outside a store in Rocklin, California, the US.
Image: DAVID PAUL MORRIS

Our host Mudiwa Gavaza is joined by Shadab Rahil, CEO of Payment24, a Cape Town-based technology firm specialising in payment solutions for the transport and fleet industries.

Rahil says electric vehicles (EVs) have been slow to take off in SA, but uptake is set to grow as the upfront costs of these vehicles drop and as more infrastructure becomes available to support them.

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Among the reasons for this apparent slow uptake are costs and the availability of charging points. The lowest-cost EVs available in SA are priced at about R600,000 and there are limited numbers of public charging points — particularly outside the major metros. 

As more manufacturers such as General Motors, Hyundai, BMW and Porsche build their own EVs, Rahil says this will help drive down costs, while using established brands to sway public sentiment about the technology.

Rahil also explains the role that government needs to play in creating incentives for EV ownership. This is what governments in other parts of the world have done to push up adoption. 

Topics of discussion include: Payment24’s business model; factors currently holding back EV adoption in SA; the economics and business case for EVs in SA; the role of government in helping to drive adoption; the role of fleet operators in driving local EV sales; and the growth in EVs around the world.

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 Business Day Spotlight is a MultimediaLIVE production.


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