The value of the global electric vehicle (EV) rental market is expected to surge to US$18 billion (R328 billion) before 2028 but South Africa’s car rental experts believe it’s unlikely the country will experience this type of growth in the sector anytime soon. Hybrid vehicles are expected to occupy the eco-conscious niche in sub-Saharan Africa for some time.
Data released by Technavio, a global technology research and advisory company, finds the EV rental market should grow at a compound annual growth rate of 16,68% – driven by international tourism growth increasing demand for rental vehicles.
Advances in battery technology are enhancing the performance of these rentals and an increasing number of consumers in Europe, Asia and the US are opting for eco-friendly transportation options.
SA infrastructure lags
EV rentals in South Africa have not seen significant uptake at all, says Sandile Ntseoane, General Manager of Southern African Vehicle Rental and Leasing Association (SAVRALA).
“The adoption rate of EVs in the South African car rental space is so negligible that SAVRALA has no basis to collect data.”
