Used EV car prices drop in South Africa

• Demand for used vehicles across all categories in South Africa outpaces demand for new cars by two to one. As prices of used EVs decline, it will not be long before their sales also outperform new EVs.

• The BMW i3 eDrive is the cheapest used EV in the country with a price of $15,000. This price still beats the cheapest new EV, the BYD Dolphin Mini, which will launch in South Africa this year with a price tag of $19,000.

• Our take: The price of entry-level new EVs has come down to below $10,000 in the global market, which will translate to even lower prices when offloaded to the pre-owned market… Read more (2 min)

Tunisia’s Pixii Motors gets $200k pre-seed funding

• Although the funding may seem small, Pixii will gain an 18-month mentorship on how to become competitive in both short and long term in the market which has very few e-motorcycle companies.

• Pixii is steering Tunisia towards e-mobility adoption in North Africa, despite the nation’s traditional focus on oil production. Egypt and Morocco are leading the electrification but now smaller countries like Tunisia and Libya are showing interest.

• Our take: Tunisia’s proximity to Italy is good for it to expand its EV market and target exports to Europe… Read more (2 min)

Mbay Mobility targets $7m seed round valuation

• Mbay targets to use the new funding round to electrify taxis in Senegal. The country has 16,000 taxis, mainly in the capital Dakar, but almost all are ICEs.

• The entry of ride-hailing apps such as Uber and Bolt in Africa have revolutionised the taxi business on the continent. But more than 95% of all taxis in Africa use fossil fuels.

• Our take: The emergence of Mbay highlights the potential in Africa’s electric taxis market, which will grow as the continent’s population, especially in urban areas, explodes… Read more (2 min)

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