06/09/2026
SOUTH AFRICA’S EV BOOM COULD CHANGE THE ELECTRICITY BUSINESS
South Africa sold 896 new-energy vehicles in 2021.
By 2024, that had increased to 15,611.
In 2025, it reached 16,716.
In the first seven months of 2026, another 16,289 were sold, already 97.5% of the entire 2025 total.
Now follow those numbers into electricity.
At one million fully electric vehicles, annual electricity demand could reach 2.5 to 3 TWh.
At five million, 12.5 to 15 TWh.
At ten million, 25 to 30 TWh.
Then add electric taxis, buses, delivery fleets and commercial vehicles.
South Africa is potentially creating an enormous new electricity market.
That is particularly interesting because supplying electricity in South Africa has not been an easy place to make money. Independent generators have faced regulation, grid constraints, Eskom dominance and difficult project economics.
Electrification changes that equation.
Transport currently consumes enormous amounts of energy through petrol and diesel. As vehicles electrify, a growing share of that demand moves into electricity.
At the same time, households and businesses are installing solar and batteries at scale.
We could therefore see two markets growing together: electricity demand from transport and decentralised electricity supply.
That requires more generation, transmission, distribution, storage and charging infrastructure.
But it also creates millions of new electricity customers buying energy for mobility.
EV growth is much bigger than a motor industry story.
It could materially change the economics of South Africa’s electricity market.