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The electric vehicle (EV) and charging infrastructure market in South Africa is poised for substantial growth, with projections indicating an increase to USD 471.3 million by 2025 and reaching USD 1.01 billion by 2029. Despite a slightly moderated growth rate compared to prior years, the market continues to expand significantly, buoyed by a robust compound annual growth rate (CAGR) during 2020-2024 and a strong expected CAGR from 2025-2029. The report from Research and Markets offers a comprehensive analysis of the South African EV landscape, including detailed market segmentation and insights into investment opportunities and market dynamics across various EV and charging infrastructure segments. This includes market size by value and volume, drive type, vehicle class, and charging infrastructure details, all crucial for understanding the evolving EV ecosystem in the region.

Elsewhere in the market, Seres GroupLtd was a notable mover up 10% and ending the day at CN¥145.87, not far from its 52-week high. At the same time, XPeng softened, down 7.9% to close at $20.50. Two days ago, XPeng reported significant revenue growth and reduced net loss for Q1 2025.

XPeng's focus on AI and international growth could delay profitability due to rising R&D costs. Discover the full narrative on XPeng's strategic positioning.

Be sure to revisit our Market Insights article titled "The Investing Case For Automation And Robotics Stocks," where we examined the critical role of AI-powered autonomous vehicles and drones in transforming electric vehicle investments—explore these trends before they reshape the market landscape.

Best EV Stocks

• BYD finished trading at HK$465.20 up 2%, not far from its 52-week high. BYD is enhancing its European operations with a new headquarters and R&D center in Hungary, announced 3 days ago.

• Tesla ended the day at $341.04 up 1.9%.

• Ford Motor finished trading at $10.44 down 0.4%.

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• Investigate our full lineup of 52 EV Stocks featuring Great Wall Motor, Subaru and Compagnie Générale des Établissements Michelin Société en commandite par actions right here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.