South Africa wants to spend billions of dollars fostering an electric vehicle industry, complicating efforts to finalize an $8.5 billion climate aid package before next month’s United Nations climate summit.
The landmark funding plan unveiled at last year’s climate conference in Glasgow was meant to help South Africa wean itself off coal. It was hailed at the time as a prototype for other developing countries transitioning to cleaner energy, but talks are now mired in disagreements over how the money should be used.
In total, the plan suggests R128 billionof spending on electric vehicles with some of that money going on industrial development and innovation programs, one of the people said. Funding nations aren’t enthusiastic about the EV proposals, though, and would only offer grants for studies, the people said.
South Africa’s Department of Trade, Industry and Competition, which has been pushing the electric vehicle program, referred queries to the Presidential Climate Finance Task Team, which didn’t respond to a request for comment.
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South Africa wants to build electric cars using R128 billion of renewable fundingSouth Africa wants to spend billions of dollars fostering an electric vehicle industry, complicating efforts to finalize an $8.5 billion (R154-billion) climate aid package before next month’s United Nations climate summit.
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