WesBank, in partnership with FNB, hosted EVolution, a first-of-its-kind industry event aimed at empowering fleet operators in South Africa in their drive towards electric mobility. The event provided key insights addressing businesses looking to electrify their vehicle fleets.
The event brought a distinguished group of medium and large fleet operators together as well as allowing all participants to gain first-hand experience behind the wheel of the latest Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Electric Vehicles (PHEVs).
EVolution featured additional information of EV finance, alongside insightful presentations from industry experts and logistics companies already leading the adoption of EVs in South Africa. The event highlighted the global shift towards electric mobility, with global EV sales reaching 17 million in 2024, a significant increase from 14 million in 2023.
According to GreenCape, the growth in EV sales is a result of increased availability of EV models and their growing cost competitiveness due to rising fuel prices. Government incentives have also played a critical role in the growth of NEV sales globally, this trend is also starting to unfold in South Africa as the government prepares to make further adjustments regarding the country’s policy position on EVs.
The South African EV market has demonstrated significant growth despite being in the early stages, WesBank claims mzansi sold 3,487 EVs in Q1 of 2025 beating last years figures of 3,042 and 1,665 in the corresponding periods of 2024 and 2023 according to naamsa data.
“WesBank is very proud of its efforts in moving the industry forward. We remain committed to supporting South African businesses in their transition to electric mobility, providing the expertise, financial solutions, and industry connections necessary to navigate this transformative journey successfully.”
Participants were also provided with information to help them understand fundamentals such as mobility costs, the value chain, and how to leverage telematics data to improve fleet operations. They were also introduced to a range of tools that help fleet operators, track and measure the total cost of ownership and carbon emissions. For more info on fleet electrification, visit www.wesbank.co.za/home/fleet-solutions