New R299-per-month service that pays electric car owners, and an African city using cable cars to solve congestion

Chery is reviving the Freelander brand as a new luxury marque that is set to go on sale in global markets in late 2026.

Freelander was originally a nameplate under Jaguar Land Rover, but the new brand is being spearheaded by Chery Jaguar Land Rover in China, which aims to produce a range of high-end SUVs with new-energy-vehicle powertrains.

Crude oil prices have risen from $75 to $79 per barrel over the last 24 hours due to new developments in the Middle East.

The market remains speculative as prospects for a lasting agreement to reopen the Strait of Hormuz remain elusive.

Iran wants to restrict US and Israeli ships from the Strait and require compensation from countries it considers hostile before allowing passage, according to local media reports on a proposed Iran-Oman agreement.

US President Donald Trump has backed down from recent threats to resume military strikes on Iran, stating that things are “moving along good.”

The rand is currently trading at R16.34 to the US dollar, holding its value as investors wait for signs of progress on a peace deal in the Middle East

5 important things

New R299-per-month service pays EV owners to charge at home: Gridcars will launch a new subscription service for electric vehicle users in South Africa that allows them to earn public charging tokens for each kilowatt hour charged at home. [MyBroadband].

South Africa’s biggest train operator under investigation: The Passenger Rail Agency of South Africa (PRASA) is currently being investigated over alleged criminal infiltration and irregularities in the procurement of services and subcontracts. [TopAuto].

African city tries to use cable cars to fix congestion: The city of Antananarivo in Madagascar spent $170 million on a cable car system to address congestion; however, the project has seen poor uptake because it is too expensive for the average commuter. [Associated Press]

Porsche unveils new 911 Turbo S Land Down Under: Porsche Cars Australia has revealed the new 911 Turbo S Land Down Under, a special-edition model commissioned to commemorate 75 years of Porsche in Australia. [Porsche]

Honda outsourcing new car programme to Tata: Honda Motor has outsourced the development of a new vehicle programme to the Indian carmaker Tata Technologies to cut costs. Tata will build a new platform to support multiple car models, including combustion engine, hybrid, and electric vehicles.[Bloomberg]