The automotive industry is set to change more in the next 10 years than it has in the previous 50, and WesBank is fully committed to supporting this seismic changeIn discussion at SA Auto Week are, from left, panel moderator Dr Martyn Davies, Africa automotive industry leader: Deloitte; chairman and MD: Volkswagen SA Dr Robert Cisek; WesBank CEO Ghana Msibi; co-CEO cars: Mercedes-Benz SA Mark Raine; and Business Leadership SA CEO Busisiwe Mavuso.
“This event was a first in bringing together representatives from all the major vehicle and asset financiers to share the stage and our combined experiences, under one roof, not on a competitive level but on a sustainable footing. This is a massive step forward in my view,” said Msibi.Large vehicle markets such as Europe have banned the sale of new vehicles with traditional internal combustion engines from 2030.
The WesBank CEO went on to say that all involved in the automotive and related industries could be proud of the way they recovered after Covid-19. Discussions during the three-day thought leadership conference focused on the past and present disruptions to production and sales, including Covid-19, the global microchip shortage and changes in vehicle ownership patterns. The industry also discussed ways it would need to prepare for a new era in which it would predominantly build, export and sell NEVs and how SA could prepare for this inevitable future.