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Mobility 2030: Tax Incentives Drive Innovation

Tax Incentives Drive Innovation

To build a progressive innovation landscape and economy, cash grant funding and tax relief should work as complementary instruments. Fortunately, a range of both of these incentive schemes is already on offer in South Africa.

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We live in a world where technology is constantly evolving, and where companies strive to be the next “best innovator”. The way in which we travel is no exception to this, and it is now widely accepted that by 2030, mobility will be dramatically different to what it is today. With the introduction of Electric Vehicles (EVs) and Autonomous Vehicles (AVs), the future of mobility means our day-to-day journeys will become cleaner, safer, cheaper and more productive. Sectors are being disrupted, with new markets emerging, while others are converging or declining. This means swiftly adapting business and operating models, and securing the right partnerships and acquisition targets. Hence, Mobility 2030, simply defined, is about understanding how people and goods will move in the future, and is an initiative which focuses on achieving collaboration and enhanced growth across all users of, and contributors to, the mobility sector.

From a policy perspective, we should create the conditions in which the next Elon Musk chooses to stay in South Africa, rather than move abroad to fulfil his or her scientific and innovation endeavours. We need innovators to seek solutions to EV issues – such as the reduction of build costs, extending the drive range and decreasing charging time. In addition, EVs requires a modification to the country’s infrastructure, and we need innovative forward-thinkers to help build what is necessary for effective use of EVs and AVs.

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© 2019 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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