It’s not only Taiwan that sees no future in South Africa.
Hyundai, the multinational car manufacturer, has joined the chorus. Its local CEO, Stanley Anderson, has flatly declared that electric vehicles (EVs) aren’t viable in the country. The brand sells electric cars across Europe, the US, and South Korea. However, in South Africa, less than 1% of sales are electric, and Anderson doesn’t see that changing.
But others disagree: Carmakers are still rolling out new EVs. South African Bank, Absa, says adoption will accelerate as costs fall. South Africa’s EV market, projected to reach $102 million in 2025, may be small compared to global markets like China, whose EV market is projected to surpass $557 billion in 2025. However, the country leads the continent as one of the largest EV adopters.
So, why is Hyundai different? It may be a price factor. Some EVs in South Africa are priced as low as $22,000, like the newly-launched BYD Dolphin Surf. The Hyundai Kona Electric, which has a slightly higher battery of 39.2 kWh (compared to BYD Dolphin Surf Dynamic’s 38.8 kWh), sells for about $40,000 in South Africa.
Hyundai’s stance highlights the divide that some automobile companies see South Africa as a testing ground for affordable EVs, while others see it as a market too small and too risky.
