Ramaphosa signs massive tax break for EV and hybrid investments into law

[Hanno Labuschagne]

Ramaphosa signs massive tax break for EV and hybrid investments into law

South Africa is poised for Chinese investment in its $27 billion automotive industry after the president signed a tax break for the production of so-called new-energy vehicles into law.

Three Chinese automakers have already signed non-disclosure agreements with the Automotive Business Council, chief executive officer Mikel Mabasa said, declining to identify them.

[Bloomberg]

 

[ToxicBunny]

How about signing tax breaks in for the people who buy the EVs and Hybrids cyril?

 

[Former member 61586]

that cheque from china has cleared i see.

 

[Curt889]

Sooner we stop buying their Chinese crap the sooner they will go away.
Cyril can help them all he wants if there's no demand there's no money to be made they won't come here.

We shouldn't be supporting these commies anyway.

 

[Pegging]

Sooner we stop buying their Chinese crap the sooner they will go away.
Cyril can help them all he wants if there's no demand there's no money to be made they won't come here.

We shouldn't be supporting these commies anyway.

Sweet that you aren't aware of who the ANC are.

 

[Curt889]

Sweet that you aren't aware of who the ANC are.

I'm aware they the same thing, I'm suggesting sticking it to their masters .

make the business environment here for them difficult so they relationship sours

 

[Pegging]

I'm aware they the same thing, I'm suggesting sticking it to their masters .

make the business environment here for them difficult so they relationship sours

Ah yes, the shoot yourself in the head strategy. Brilliant.

 

[Exaelea]

Sooner we stop buying their Chinese crap the sooner they will go away.
Cyril can help them all he wants if there's no demand there's no money to be made they won't come here.

We shouldn't be supporting these commies anyway.

Always find it amusing how people say chinese crap... Especially the Americans.

You better be willing to get rid of almost everything you own then. Go live in the bushes and make fire with wood.

 

[neoprema]

Ah yes Cyril getting a big fat rebate promise from China into some of his unheard of bank accounts.

Try buy an EV from Audi or BMW and see how hard you will be stung. So that they can sell the cheap rubbish from their new masters…

 

[mypetcow]

How about signing tax breaks in for the people who buy the EVs and Hybrids cyril?

The import tax that makes imported cars incl. EVs and hybrids would fall away completely if these were to be built locally. So that’s what they’re indirectly doing. Plus jobs. So win win all round.

 

[Johnatan56]

The import tax that makes imported cars incl. EVs and hybrids would fall away completely if these were to be built locally. So that’s what they’re indirectly doing. Plus jobs. So win win all round.

You mean the same as with ICE cars? Manufacturers have mostly just been pocketing that, consumers can't get it cheaper anyways.