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Stuff from Johannesburg

iCAUR EV SA Sales To Date

The electric SUV recorded 496 sales in its first three full months in South Africa, accounting for more than three-quarters of iCAUR’s local total.

Less than two years after going on sale, the iCAUR V23 has reached 100,000 sales worldwide. Launched in December 2024, the boxy electric SUV is now available in more than 20 markets. iCAUR launched the V23 in South Africa on 28 May.

Sales rose 51.9% from 160 units in June to 243 in July, before increasing to 252 in August. This brought iCAUR’s local sales to 655 units by the end of August. The V23 accounted for 78% of the brand’s August sales and approximately 76% of its total for the year to date.

“Selling 100,000 V23s in less than two years is a major milestone, especially for a new model in a competitive EV market,” said Shannon Gahagan, Head of Brand and Marketing at iCAUR and OMODA & JAECOO South Africa. “South Africa has also made a strong start, with 655 vehicles sold across the iCAUR range in our first three full months. The design gets people’s attention, but customers are also looking at the cabin space, safety, ground clearance and the choice between 2WD and AWD.”

Thailand has been another strong market for the V23, with more than 7,500 units sold to date and monthly sales passing 1,000 units on several occasions. The V23 led its segment in Malaysia in July, the same month local assembly began. In Hong Kong, it secured 13% of the new-vehicle market in June before becoming the territory’s best-selling new vehicle overall in July.

At 1.90 metres wide and 1.84 metres high, the V23 has the square, upright stance that defines its design. It rides on a 2,735 mm wheelbase and offers 210 mm of ground clearance, along with a 43-degree approach angle and 41-degree departure angle for light off-road driving.

The V23 received a Red Dot Award: Design Concept in 2026 and holds a five-star ASEAN NCAP safety rating. More than 20 factory-prepared mounting points are available for owners who want to add accessories or personalise their vehicles.

iCAUR, part of Chery Group, plans to follow the V23 with the V27, the next model in its boxy SUV range. Launch timing and market availability will be announced separately.

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Africa’s Economic Heartbeat and the JSE

Johannesburg is the undisputed financial capital of the African continent. It is classified as an “Alpha Global City,” meaning it plays a primary role in the global economic network. The city generates roughly 16% of South Africa’s GDP and is the headquarters for 74% of the major multinational companies operating in Sub-Saharan Africa.

At the center of this economic power is the Johannesburg Stock Exchange (JSE). Founded in 1887, just one year after the city’s birth, the JSE was initially a way to raise capital for deep-level mining. Today, it is the largest stock exchange in Africa and ranks among the top 20 in the world by market capitalization. The financial district has moved from the historic city center to Sandton, an area often called “Africa’s Richest Square Mile.” This shift reflects Johannesburg’s evolution from a rough-and-tumble mining camp into a sophisticated service-and-finance economy. Despite the decline in actual mining, the city remains the “command and control” center for the continent’s mineral wealth, telecommunications, and banking sectors.