Coega-based lithium-ion battery plant to open its doors this year

The Megamillion Energy Company intends to be Africa’s first large-scale producer of lithium-ion batteries, with a mandate to make batteries “in Africa, for Africa’s benefit first”. Megamillion aims to have Africa’s first lithium-ion battery production pilot plant up and running in the second half of this year, says Megamillion Group CEO Nechan Naicker.

Local lithium-ion battery plant to open its doors this year

The Megamillion Energy Company intends to be Africa’s first large-scale producer of lithium-ion batteries, with a mandate to make batteries “in Africa, for Africa’s benefit first”. Megamillion aims to have Africa’s first lithium-ion battery production pilot plant up and running in the second half of this year, says Megamillion Group CEO Nechan Naicker.

South Africa does not need domestic EV market to produce EVs, says Patel

There is an opportunity to bring battery electric vehicle and plug-in hybrid electric vehicle production to South Africa, without first developing a domestic market and charging infrastructure for these vehicles, says Trade and Industry Minister Ebrahim Patel. Addressing the National Association of Automobile Manufacturers of South Africa conference held in Midrand on Thursday, Patel said producing these vehicles in South Africa was "not necessarily" based on South Africa first developing a base of electric vehicles consumption, along with “all the necessary infrastructure”.

Fixing Eskom will result in higher taxes, electricity prices – economist

There is little doubt that the taxpayer will be left footing the bill for the problems experienced at power supplier Eskom, and probably so through higher electricity prices and increased taxes. Over the last decade-plus, Eskom has seen generation capacity increase only slightly, with the amount of electricity sold declining and the parastatal’s debt load going up by more than a factor of ten, said Absa research head and chief economist Jeff Gable at a Ford media breakfast in Pretoria on Wednesday.

Buoyed by mining recovery, Barloworld looks to Mongolia for growth

Barloworld’s results on Monday reflected some of the biggest trends in the South African economy, with the company reporting a sharp drop in equipment sales to the troubled construction industry, as well as a decline in new-vehicle sales and car rental days, but with the mining industry seemingly lifting its head. The equipment and logistics company reported a 1.6% drop in revenue for the six months ended March 31, to R30.4-billion, compared with the same period in the 2018 financial year.