by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – THE high initial cost of acquisition and lack of charging infrastructure in some areas are the main impediments to the potential for growth in the electronic vehicles (EV) market in Africa.
However, increasing urbanisation, a growing middle class, renewable energy potential and decarbonisation are significant positives indicating the future of the development of the EV market is ever brighter.
Experts have expressed these sentiments at the just-concluded Third Quarter Automechanika Johannesburg CEO Breakfast.
“There is no doubt that the future of the EV market in Africa will become more sustainable and viable as rapid technological development is expected to drive costs down,” said Greg Cress, Principal Director: Automotive and eMobility at Accenture South Africa.
“Furthermore, the mineral rich African Continent holds huge potential for focusing on beneficiation and the resultant economic benefits this will undoubtedly deliver in terms of economic growth, further enhancing cost-efficiency ratios,” he said.
Messe Frankfurt, the organiser of the series, believes there are vast opportunities for alert and innovative entrepreneurs in the Southern and sub-Saharan African regions.
Among upcoming events are Automechanika Johannesburg and Futuroad Expo.
Stephan Kurzawski, senior vice president: Consumer Goods and Sales at Messe Frankfurt alluded to the increasing importance of the EV sector.
He announced that Automechanika Frankfurt 2024 – the largest international trade fair for the automotive aftermarket – would again feature a dedicated and expanded exhibition section to eMobility. The exhibition will run from 10-14 September.
– CAJ News