Cape town: President Cyril Ramaphosa highlighted the shift towards Electric Vehicles (EVs) as a significant industrial opportunity for South Africa during his keynote address at the South African Auto Week at the Cape Town International Convention Centre. He emphasized the potential for the country to align with global automotive trends and to foster a green economy within the African Continental Free Trade Area. According to South African Government News Agency, President Ramaphosa stated that the transition from Internal Combustion Engines to EVs is crucial for maintaining South Africa's role in the global supply chain. He pointed out that this shift not only aligns with international trends but also positions South Africa as a leader in green technology and as a global automotive hub. The president acknowledged the challenges posed by decarbonization to the automotive sector, yet reassured that the government will support the industry through this transition. He noted the vulnerability of automotive firm s and sub-industries due to stringent regulations and the shift towards sustainable fuels. However, he also highlighted the immense opportunities that arise from adopting new energy vehicles and sustainable practices. Further elaborating on government strategies, President Ramaphosa shared that the Department of Trade, Industry and Competition, National Treasury, and the Department of Mineral and Petroleum Resources are collaborating on the Electric Vehicle White Paper. This initiative focuses on the beneficiation of critical minerals, production of batteries for EVs, and the development of green hydrogen fuel cell market value chains. In efforts to boost the uptake of electric vehicles, the government plans to finalize NEV policy guidelines, which will include incentives for manufacturers and potential tax rebates or subsidies for consumers. Additionally, President Ramaphosa discussed efforts to improve the performance of South Africa's energy, freight, and logistics sectors, which directly impact the aut omotive industry. He mentioned ongoing projects such as the revitalization of the Port of Durban and upgrades to the Gauteng-Eastern Cape railway line, emphasizing the government's commitment to removing barriers that hinder the automotive sector. Concluding his speech, President Ramaphosa expressed optimism about deepening collaborations between government, industry, and labor to achieve inclusive growth and job creation despite potential challenges. Source: South African Government News Agency