South Africas automotive sector must urgently revamp its incentive schemes to remain competitive in a rapidly changing global market dominated by new energy vehicles NEVs and hybrids, says Deputy Minister of Trade, Industry and Competition, Zuko Godlimpi.
Speaking during a business meeting with automotive stakeholders, innovators and investors at the East London Industrial Development Zone ELIDZ in KuGompo City in the Eastern Cape last week, Godlimpi said the sector faced a price point problem that required structural reform in production and support measures to improve affordability.
The growing uptake of lower-cost Chinese vehicles has increased pressure on local manufacturers to adapt, he said.
