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* Likho Mbuka is a Moneyweb intern.\u00a0<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n
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Spiralling fuel prices are prompting renewed interest in electric vehicles (EVs), but Volvo Car South Africa says the real shift is being driven by the long-term cost of ownership rather than short-term price shocks at the pump.<\/p>\n
The company notes that recent internal data shows growing interest in its EV range, as consumers increasingly compare fuel costs with the potential savings from charging and lower maintenance.<\/p>\n
Read:
No April Fools\u2019 joke: Diesel still rockets over R7\/l, petrol over R3\/l
Government cuts fuel levy by R3 to curb price shock<\/p>\n
\u201cFuel price increases may start the conversation, but they are not the full story,\u201d says Grant Locke, MD of\u00a0Volvo Car South Africa.<\/p>\n
\u201cWhen you look at the total cost of ownership, the flexibility and the advancements in battery technology, electric vehicles begin to make a compelling case on their own,\u201d he adds.<\/p>\n
EVs typically have fewer moving parts than internal combustion engine vehicles, which can reduce maintenance requirements and extend service intervals, according to Volvo.<\/p>\n
Battery durability has also improved, with most manufacturers offering warranties of up to eight years or 160 000 kilometres. Cost comparisons remain central to the shift.<\/p>\n
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\nCharging a 50kWh battery using a public fast charger can cost about R400, delivering roughly 250 to 350 kilometres of range.<\/p>\n<\/blockquote>\n
\u201cBy contrast, charging at home during off-peak periods could cost closer to R175, depending on electricity tariffs,\u201d says Volvo in a statement.<\/p>\n
\u201cA driver travelling about 60 kilometres per weekday could spend between R750 and R1 000 per month on energy, based on typical consumption and electricity costs,\u201d it points out.<\/p>\n
Read:
How SA missed the chance to launch its home-grown electric vehicle
SA\u2019s fuel forecourts evolving into \u2018lifestyle\u2019 destinations?
Opportunistic price gouging amid rising fuel prices in SA<\/p>\n\u201cThe ability to charge at home fundamentally changes the economics of driving,\u201d says Locke.<\/p>\n
\u201cWhether it is overnight charging on lower tariffs or making use of solar power, drivers have far more control over their monthly mobility costs.\u201d<\/p>\n
Fuel price hikes, following the escalation in the Middle East conflict, also have broader economic implications.<\/p>\n
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\nWith more than 80% of goods in South Africa transported by road, higher diesel costs feed into food and retail prices, placing additional pressure on household budgets.<\/p>\n<\/blockquote>\n
Against this backdrop, Volvo says EVs are increasingly being considered as a hedge against fuel price volatility, although adoption remains constrained by high upfront vehicle costs and limited charging infrastructure.<\/p>\n
Read: Volvo Car South Africa backs The Sharks<\/p>\n
The group adds that as consumers better understand total ownership costs, the shift towards electric vehicles is likely to be driven less by fuel price spikes and more by long-term affordability considerations.<\/p>\n
\u201cAs more South Africans begin to understand these dynamics, the shift becomes less about reacting to fuel prices and more about making a longer-term mobility decision,\u201d Locke reiterates.<\/p>\n
\n\n\n\n\n\n\n* Likho Mbuka is a Moneyweb intern.\u00a0<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n