manufacturing industrial base, like Australia did, should the transition to new energy vehicles be mismanaged.last Thursday that government plans to support the automotive industry’s transition to electric vehicles, both at the manufacturing level and for consumers in the form of tax rebates or subsidies.
“If we mismanage this transition, we are likely to end up like Australia, which lost its manufacturing base completely. Every vehicle in Australia today is imported, even though they once had a fantastic manufacturing base in that country,” said Mabasa. “South Africa cannot afford to go that route because we employ more than 500 000 people, who are dependent on this industry.”
Three in five locally manufactured vehicles are exported to the EU, which plans to ban the sale of new ICE vehicles by 2035. Mabasa said there are also opportunities available to South Africa in the beneficiation of minerals used in NEVs, including nickel, cobalt and lithium.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SA woos UK, Ireland for foreign investmentSouth Africa is the second largest destination for British FDI in Africa.
Source: TheStar_news - 🏆 26. / 59 Read more »