Is the slow uptake of the EV revolution the real reason why Shell's pulling out of SA?

Motheo Khoaripe speaks to Ed Stoddard, journalist at Daily Maverick. 

Shell confirmed plans to divest from Shell Downstream South Africa (SDSA), as part of a strategic realignment focusing on performance and simplification.

This will mark the end of the multinational oil and gas company's 120-year presence in South Africa, where it operates more than 500 service stations across the country.

The move comes following reports that Shell was in a dispute with its BEE partner, Thebe Investment Corporation over it's 28% stake in the company.

Speaking to Motheo Khoaripe on The Money Show, Ed Stoddard, journalist at Daily Maverick says this also coincides with the energy company's broader transition towards electric vehicle charging options.

"They have been doing a strategic asset review, and they've taken a comprehensive review of their downstream and renewable businesses across all regions and markets, and so they've decided to divest from South Africa in terms of their downstream offerings, in this case that would basically be their petrol stations."

- Ed Stoddard, journalist - Daily Maverick

"...they're doing that because they're pivoting to EV charging stations."

- Ed Stoddard, journalist at Daily Maverick

"...so in terms of the narrative of it being a divestment from South Africa, I think it is a divestment in this case because of how slow South Africa has been to embrace the electric vehicle revolution."

- Ed Stoddard, journalist at Daily Maverick

Scroll to the top of the article to listen to the interview.