Technology

South Africa sees record EV growth

EVs are no longer only found in wealthy countries. Developing economies are seeing record sales.

02 September 2024

The global EV landscape is an uneven one, or, as Bloomberg has it, world markets, “are not all traveling in the same direction or at the same speed in 2024”.

While sales of EVs continue to rise globally, some markets are experiencing a significant slowdown and many automakers have pushed back their EV targets. In its ‘Electric Vehicle Outlook 2024’ report, BloombergNEF says that EVs are no longer only found in wealthy countries, and developing economies are experiencing record sales of low-cost models.

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