Government incentives ’ll make Electric Vehicles more affordable —Everlectric CEO Ndiambani Magadagela

Ndiambani Magadagela is a Director at Blackslope Group and Chief Executive Officer and Co-founder of Everlectric. Ndia started her career in audit at Deloitte after which she went into Development Finance. She is an ex-Senior Deal Maker at the Industrial Development Corporation of South Africa. She later became a Principal in Mergers and Acquisitions at the JSE listed Momentum Metropolitan Holdings. Currently, she is the CEO of Everlectric which is an electric vehicle Leasing business. Everlectric is the first South African business to package leading international electric vehicles, charging infrastructure & innovative finance solutions that remove the hurdles to adopting a cleaner & more efficient future. She holds a B.Compt (Hons) Degree in Accounting Sciences and is a Qualified Chartered Accountant in South Africa. She attended the just-concluded Smart Mobility Africa conference in Johannesburg where she speaks with Oke Peter on challenges hindering the transition to electric vehicles. Excepts:

You are a woman working in a male-dominated environment. What is the biggest challenge you have ever faced as the Chief Executive Officer of Everlectric?

Indeed, the industry is still male dominated.  There is unfortunately societal expectations and beliefs that question a woman’s leadership abilities. As a woman one needs to prove their abilities more than the male counterparts. I have learnt though that if one is proficient in the subject matter, these beliefs are quickly eradicated. However, I have been fortunate to have the support of my business partners and the team at Everlectric.

Everlectric is a household name in electric vehicles and charging technology, how do you cope with battery issues, climate control, and in-car electronics and how sustainable are your services?

Everlectric is leading the South African logistics industry’s transition to environmentally responsible, operationally efficient and commercially attractive electric vehicles. We package a full maintenance solution that includes the vehicles, charger maintenance solution. Everlectric’s packaged solution eliminates unpredictable and volatile operational expenditure while retuning cost savings. We have ensured that all the elements in this offering are from reputable suppliers and we provide support to our clients in the case that something goes wrong. Our clients save close a ton a ton of carbon per vehicle per month.

Electric vehicles are found to be more expensive than gasoline-powered vehicles because of the battery technology. What do you think can make EVs affordable?

Yes, Electric vehicles are more expensive than the internal combustion engines. In South Africa, Electric vehicles attract up to 40% import duties. Even with the cost as high as it is, EVs are still cheaper on a total cost of ownership basis. If one baselined costs driver and the EV costs the incumbent ICE total costs hit a cross over point at a certain number of kilometers where it is more affordable to operate EVs within the client fleet than ICE vehicle. What will make EVs more affordable are government incentives that will help drive the cost of the EVs down.

What precautions do you take to ensure the smooth running of the affairs of this company and how do you make an everlasting impact on your clients?

The ever so committed team at Everlectric work day and night to provide the best of service to our clients. Clients are assured that they will get a fully charged vehicle every day to do their deliveries and if there is an emergency, our team is out in a short amount of time to offer roadside assistance. We are committed to quality throughout our operations. This leaves a lasting impression on our clients because the transition to EVs has had no significant impact on the operations.

Who are your competitors in the industry?

There are a number of competitors who are currently providing full maintenance leases to clients but not Electric. In my view there will be others that will package solutions that help client’s transition to electric.

Your company guarantees 5 years of operational cost for your clients, how is this feasible considering the current economic realities?

Yes, we can. Because if you look at the cost drivers in the packaged solution. Most of them remain constant or their increase is not substantial. We can then pencil in a cost at the beginning of the lease term which stays the same or similar for the entire lease term.

You attended the just-concluded Smarter Mobility Africa conference in Johannesburg, South Africa. What are your takeaways from the event?

The conversations in South Africa are maturing. There is a lot more interest within the different stakeholders being government, business and investors. The summit was bigger than ever.

What is the future of Electric Vehicles and what are your projections for Everlectric in the next five years?

The future of mobility is electric and we can see that in South Africa. We see it in the pronouncement that vehicle brands are making for the future. Everlectric will grow as the industry grows. First within the commercial space and then in the individual space.

Leave a Reply