The funding is expected to propel Everlectric’s expansion and support its mission to drive EV adoption in the country.

Everlectric specializes in full-maintenance leasing of battery electric vehicle (BEV) panel vans, catering primarily to businesses in the logistics sector.

The company addresses key barriers to EV adoption by offering cost-effective and sustainable transportation solutions, including high upfront costs and concerns around charging infrastructure.

South Africa’s EV market is still in its early stages, with electric vehicles making up a small fraction of the country’s overall vehicle sales.

However, recent years have seen growing interest in clean mobility, driven by increasing fuel prices, government commitments to reducing carbon emissions, and private sector investment in EV technology.

The government has also introduced the Green Transport Strategy, aimed at reducing greenhouse gas emissions and promoting sustainable transport options.

One of the primary challenges hindering EV adoption in South Africa is the high cost of EVs, exacerbated by import duties and limited local manufacturing.

Additionally, the country’s electricity supply challenges, including load shedding, raise concerns about the reliability of charging infrastructure.

Despite these hurdles, companies like Everlectric are finding innovative ways to make EV adoption feasible for businesses, particularly in logistics and fleet management, where cost savings on fuel and maintenance can be significant.

Everlectric’s leadership team—comprising CEO Ndia Magadagela CA(SA), Wesley van der Walt, and Paul Plummer CA(SA)—has been at the forefront of South Africa’s clean mobility movement.

The recent funding round signals confidence in the company’s vision and the potential of EVs in transforming the country’s transport sector.