What’s happening in the local EV Market
The last few months have seen a number of changes to the local EV market, although none of them major. Most changes relate to model changes. Across the board we’ve seen an increase in EV car prices. This isn’t unique to EVs, and is more related to inflation and the volatile Dollar-Rand exchange.
- BMW are no longer offering their 3 series hybrid (Active Hybrid 3). This should be making space for the upcoming 330e which has already been released overseas.
- The BMW 740e has taken over from the Active Hybrid 7; with this came a R200k price jump.
- Chevrolet’s only local electric offerings continue to be windows and mirrors, besides a new Volt overseas.
- Honda has dropped their only hybrid offering in the CR-Z. This was an international decision and is claimed to make space for an upcoming Accord hybrid.
- Mercedes-Benz have released their locally produced C350e plugin-hybrid to the market. The C-Class is an all time local favourite and it will be interesting to see the rate at which it is purchased in South Africa, especially with a pricetag R200k more than the C300.
- Contrary to the rest of the market, Nissan’s main product, the Leaf, saw a R20,000 price drop over the last few months.
- Porsche’s Panamera hybrid has fallen away, but will be replaced by the Panamera 4 E-Hybrid in upcoming months
- Toyota have bumped up their lineup with the new Prius. Currently only offering a one model choice of 1.8l hybrid. What is reassuring is that it costs only R8,000 more than when the previous model left the market.
On the charging station front, BMW having rolled out an additional station at the V&A Waterfront in Cape Town, and continue the promise of more stations. While an extra station is great, roll-out is still slow, maybe the the promise of a Tesla 3 for SA will help increase the rate of roll-out of new stations.