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Auto industry welcomes EV incentives in budget
But failure to reduce import tariffs seen as foot-dragging
25 February 2024 - 05:55
The automotive industry gave a cautious welcome to incentives for electric vehicle (EV) manufacture announced in Wednesday’s budget speech — but meanwhile must forge ahead with its own efforts to create and meet demand for EVs in South Africa.
Minister of finance Enoch Godongwana announced that “to encourage the production of electric vehicles in South Africa, government will introduce an investment allowance for new investments, beginning March 1 2026”...
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