23/08/2024
EV adoption in emerging markets like South Africa often mirrors trends seen in countries with similar economic, regulatory, and industrial contexts. Exploring key comparative markets such as Mexico, Brazil, Indonesia, and Thailand offers insights into the trajectory that South Africa could follow.
For example, Mexico saw a sharp increase in EV adoption once the number of available models reached 10-15, with year-over-year growth rates of 25-40% when the model range expanded to 20-25. Infrastructure development followed suit as private and public investments grew, driven by a push for cleaner energy.