New company in charge of the Gautrain, and plans to turn farmland into a new F1 circuit in South Africa

Chery has finally announced the name of its new double-cab bakkie, which is scheduled to go on sale in South Africa in the first quarter of 2027.

Formerly referred to as the KP31, the new bakkie will be called the Grootman in South Africa. The name was decided by a public voting competition that received over 20,000 submissions.

The Grootman is a plug-in hybrid that will combine a 2.5-litre turbocharged diesel engine with an electric motor to produce 350kW and 800Nm, making it the most powerful pickup in the country.

In other news, oil prices rose as the United States sent an additional aircraft carrier to the Middle East, potentially escalating the war with Iran.

Brent Crude increased from $96 per barrel to $102 per barrel today. Brent remains 70% higher than before the start of the war.

The oil market is susceptible to another spike as concerns grow that Iran will respond to the growing US military presence by attacking US assets and energy infrastructure in the region.

5 important things

Isuzu is the new Mercedes-Benz in South Africa: Double-cab bakkies have overtaken German sedans as the most aspirational vehicle type for buyers in South Africa, with brands like Toyota, Ford, and Isuzu now being seen as status symbols. The double-cab segment in particular has shifted upmarket in recent years with a larger emphasis on flagship models like the Isuzu D-Max V-Cross and Ford Ranger Raptor. [TopAuto].

New company running the Gautrain: Sihamba Sonke Mobility, a new concession company, has been appointed to operate the Gautrain for the next 15 years. The concession will run from 2026 to 2041 and covers the operation, maintenance, and refurbishment of the Gautrain and its bus network. [MyBroadband].

Mining tycoon’s R6.7 billion plan to turn farmland into an F1 circuit: Neal Froneman, the former Sibanye-Stillwater executive chairman, plans to turn 600 hectares of farmland into a Formula One track that will be ready by 2031. However, the project is still in the exploration and pre-feasibility stage. [BusinessTech].

New man in charge of South Africa’s luxury petrol station brand: Former McDonald’s CEO Greg Solomon is taking over as the head of the premium grocery and forecourt brand, Pantry by Marble. The Pantry started as a single forecourt in Rosebank during the Covid-19 pandemic and is now set to expand to 30 locations across South Africa. [Daily Investor].

Iran war costing the world R16.67 trillion in fuel subsidies: Governments around the world are running out of room to shield citizens from the higher energy prices caused by the Iran war. Fuel subsidies are estimated to have reached over $1 trillion, according to a UN study. [Bloomberg].