Musk's Tesla to bring electric cars back home | Fin24
 
  • New Currency

    Facebook's Libra crypto coin: 5 things we know, and 5 we don't.

  • World Bank Loan

    Eskom in race against time to complete coal line to Majuba power station.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Musk's Tesla to bring electric cars back home

Dec 11 2018 13:16
John Bowker, Bloomberg

It’s been almost 30 years since Elon Musk left South Africa to start a new life in North America. Now, the billionaire may be about to bring his Tesla electric cars back home.

“Probably end of next year,” the chief executive officer of Tesla replied to a South African fan on Twitter, who asked him when a store would open in the country of the businessman’s birth. “Amazing - I’m first in line when it happens!” replied the individual.

Tesla has stores across the globe, including the US, Germany, China and Australia. But it has none in Africa, which has been broadly left out of the electric-car revolution Tesla pioneered. Lower average incomes and poor power infrastructure mean petrol-powered cars - often bought second hand - dominate most markets on the continent.

South Africa is Africa’s most industrialised economy, but it’s not immune to those challenges. Cash constraints and delayed power plants at state utility Eskom have led to rolling blackouts. While it’s not unheard of to see an electric car on the road, they remain the preserve of the super-rich, and charging stations would be hard to come by.

Musk, 47, left South Africa for Canada after graduating from high school in Pretoria in 1989, still five years before the end of apartheid. But the self-made billionaire and founder of Space Exploration Technologies is still well known there.

Opening a Tesla store in the country could be a popular move.


NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...