Everlectric CEO and co-founder Ndiambani Magadgela is one of the 2024 Veuve Clicquot Women Best Awards finalists. Picture: Supplied
When Ndiambani Magadgela left a top job at a financial services company and started an electric vehicle leasing business along with her co-founders, she wanted to test the market for electric cars in the country.
The company, Everlectric, was formed four years ago, as South Africa battled and continues to battle with power cuts and load shedding.
The company has packaged leading international electric vehicles, charging infrastructure and innovative finance solutions that remove all the hurdles to adopting a cleaner and more efficient future. They aim to service makes your fleets transition to electric vehicles as painless as possible.
"There are challenges that South Africa faces that lead to the slow adoption of EVs as compared to other countries, challenges such as Infrastructure limitations, grid stability and load shedding as well as high upfront costs of owning an EV due to government duties,“ said Magadgela.
Everlectric business model overcomes the industry challenges associated with electric vehicle adoption in South Africa by providing a full maintenance lease solution to players in the logistics industry.
She stated that they solved the problem by bundling commercial electric vehicles, a network of charging infrastructure, electricity and an enabling digital platform to provide a solution that reduces the barriers to EV adoption for clients.
“We have done more than 3,000,000 kilometres in our EVs in South Africa and have validated the fact that if you take all-in costs of running an EV at 3,000 km per month and above.
Apparently the cost is lower than running an Internal Combustion Engine(ICE).
IOL also asked how she would advise the other young women who aspire to be leaders in business.
“I would advise them to surround themselves with mentors and colleagues who are willing to share their experiences. There is no need to learn all lessons on your own, you can learn from the experiences of others too,” she said.
She shared that learning from others can save you from having to learn every lesson the hard way, ask for help and seek experienced insights early and often.
“I have learned that those mentor relationships will also be instrumental in opening certain doors for you.
“Secondly, I would say do not let fear get in the way of your success or of your plans. You do not have to wait till all the elements line up… Just start! Take stock, refine and repeat.”
The winner for the 2024 Veuve Clicqout Bold Women Award will be announced on July 17 in Johannesburg and the winner will receive an exclusive trip to Reims France.
IOL