1 00:00:00,600 --> 00:00:03,320 Speaker 1: The Money Show, Shape Shifters. 2 00:00:03,120 --> 00:00:05,480 Speaker 2: Twenty six minutes now to seven the time. When you 3 00:00:05,519 --> 00:00:08,000 Speaker 2: think of industries that are changing at the moment in 4 00:00:08,039 --> 00:00:11,280 Speaker 2: lots of different ways, the car industry is absolutely one 5 00:00:11,320 --> 00:00:13,039 Speaker 2: of those. I mean, think of things that are happening. 6 00:00:13,119 --> 00:00:15,680 Speaker 2: So you've got the move from kind of fossil fuel 7 00:00:15,720 --> 00:00:20,079 Speaker 2: petrol diesel, to electric, through hybrid, through I don't know, hydrogen. 8 00:00:20,239 --> 00:00:24,080 Speaker 2: Someone tells me, you've also got the idea that software 9 00:00:24,160 --> 00:00:27,640 Speaker 2: is kind of defining the car. You've got other ideas. 10 00:00:27,680 --> 00:00:31,200 Speaker 2: So you heard on Friday the idea of a fractional 11 00:00:31,240 --> 00:00:33,519 Speaker 2: ownership of a car. I mean I grew up and 12 00:00:33,640 --> 00:00:36,040 Speaker 2: still kind of live by a model where you buy 13 00:00:36,040 --> 00:00:38,479 Speaker 2: a car for yourself, one for your partner. You have 14 00:00:38,520 --> 00:00:41,440 Speaker 2: a car each. When the kids get old enough, you 15 00:00:41,479 --> 00:00:45,159 Speaker 2: manage to share, or you find another one or something, 16 00:00:45,520 --> 00:00:47,720 Speaker 2: but you don't share a car with someone else. But 17 00:00:47,800 --> 00:00:50,040 Speaker 2: that's what's beginning to happen. And someone at the center 18 00:00:50,080 --> 00:00:53,360 Speaker 2: of all of that is Grant Block. He's the managing 19 00:00:53,400 --> 00:00:57,200 Speaker 2: director of Volvo Car South Africa. He's also been involved 20 00:00:57,240 --> 00:01:01,640 Speaker 2: in the Volvo's international financing division and in Sweden. He's 21 00:01:01,640 --> 00:01:04,360 Speaker 2: with me now, Grant a good evening. And I might 22 00:01:04,360 --> 00:01:06,440 Speaker 2: be the last person to say this, but welcome back home. 23 00:01:06,840 --> 00:01:09,119 Speaker 3: Thank you Stephen. It's good to be here tonight, and 24 00:01:09,560 --> 00:01:10,840 Speaker 3: good evening to all your listeners. 25 00:01:11,840 --> 00:01:13,520 Speaker 2: I do want to start a little bit about you 26 00:01:13,560 --> 00:01:16,080 Speaker 2: because you worked in finance first. Before that, you were 27 00:01:16,120 --> 00:01:19,320 Speaker 2: I think UK's ed Edd. Yeah, you're a Durban boy. 28 00:01:19,400 --> 00:01:22,680 Speaker 2: Did you grow supporting the show? More of a Midlands boy? Hey? 29 00:01:22,959 --> 00:01:26,479 Speaker 3: So went to peter Meritzburg, finished University of Peter Merrisburg, 30 00:01:26,840 --> 00:01:29,440 Speaker 3: spent one year at UCT and finished up in Merritzburg 31 00:01:29,480 --> 00:01:32,600 Speaker 3: and then sort of did the trek from PMB through 32 00:01:32,640 --> 00:01:34,880 Speaker 3: the Midlands back to joe Burg to start my career 33 00:01:35,040 --> 00:01:35,800 Speaker 3: at Standard Bank. 34 00:01:36,240 --> 00:01:37,920 Speaker 2: And you were in finance for quite a while. You 35 00:01:37,959 --> 00:01:40,200 Speaker 2: were in London, you worked at Troeders, which is a 36 00:01:40,200 --> 00:01:42,280 Speaker 2: big sort of investment hass places like that. 37 00:01:42,440 --> 00:01:45,200 Speaker 3: Yeah, I think I kind of fell into finance. I 38 00:01:45,200 --> 00:01:49,120 Speaker 3: think most people fall into finance and started out in banking, 39 00:01:49,280 --> 00:01:51,640 Speaker 3: and then in two thousand and six my wife and 40 00:01:51,680 --> 00:01:54,720 Speaker 3: I emigrated to the UK as many many people do, 41 00:01:55,560 --> 00:01:57,440 Speaker 3: and I was lucky enough to start at Schroeder's and 42 00:01:57,480 --> 00:02:00,760 Speaker 3: Schroders as well. And you know that stage was one 43 00:02:00,800 --> 00:02:02,640 Speaker 3: of the worlds or what are the Europe's or the 44 00:02:02,720 --> 00:02:05,760 Speaker 3: UK at least as large as listed asset managers. And 45 00:02:05,800 --> 00:02:09,280 Speaker 3: it was a phenomenal grounding in understanding how the markets work. 46 00:02:09,400 --> 00:02:11,880 Speaker 3: Because I started there in two thousand and six. It 47 00:02:11,960 --> 00:02:14,800 Speaker 3: was two years before the credit ment. Yeah, so I 48 00:02:14,919 --> 00:02:17,919 Speaker 3: literally was starting my career and sort of looking up 49 00:02:17,960 --> 00:02:21,400 Speaker 3: and learning about how the capital markets work, learning how 50 00:02:21,440 --> 00:02:25,720 Speaker 3: funds work, fund management, asset management, portfolio construction. And I 51 00:02:25,760 --> 00:02:28,919 Speaker 3: was doing a professional qualification at the same time. And 52 00:02:29,880 --> 00:02:33,680 Speaker 3: lo and behold September two thousand and eight, Lehman Brothers 53 00:02:33,720 --> 00:02:36,120 Speaker 3: falls and you know, you're sitting in your office in 54 00:02:36,120 --> 00:02:39,799 Speaker 3: Gresham Street in London and just probably I don't know, 55 00:02:39,880 --> 00:02:41,200 Speaker 3: it's not even a kilometer away. 56 00:02:41,120 --> 00:02:41,880 Speaker 4: Just Nears and Paul's. 57 00:02:41,880 --> 00:02:43,880 Speaker 3: They're people packing up and walking out in the fall 58 00:02:43,960 --> 00:02:47,600 Speaker 3: and Meman Brothers. And then you know, during that time 59 00:02:47,840 --> 00:02:49,520 Speaker 3: it is sort of the fallout. You know, you've got 60 00:02:49,560 --> 00:02:53,600 Speaker 3: this this news story that arrives and in the financial markets, 61 00:02:53,639 --> 00:02:56,160 Speaker 3: because it's not tangible, you're suddenly starting to okay, well 62 00:02:56,280 --> 00:02:58,560 Speaker 3: what was it? And then you figure out it to 63 00:02:58,600 --> 00:03:00,640 Speaker 3: credit the fault swap, And then first got to understand 64 00:03:00,680 --> 00:03:01,560 Speaker 3: what a credit the faults were. 65 00:03:01,680 --> 00:03:03,600 Speaker 2: I mean even now I'm still not sure. It's been 66 00:03:03,639 --> 00:03:06,359 Speaker 2: explained to me a million times, but there are times. 67 00:03:06,360 --> 00:03:07,200 Speaker 4: That you just don't know. 68 00:03:07,240 --> 00:03:09,200 Speaker 3: And then and then you're starting to Then in the 69 00:03:09,200 --> 00:03:14,160 Speaker 3: asset management world, really it's so responsive to the financial 70 00:03:14,160 --> 00:03:17,960 Speaker 3: markets because you know, the fees are generally charged on 71 00:03:18,360 --> 00:03:20,720 Speaker 3: the amount of money in assets and management. So when 72 00:03:20,760 --> 00:03:23,960 Speaker 3: the market's fall, the revenue falls in an asset management company, 73 00:03:24,160 --> 00:03:26,359 Speaker 3: and of course the markets fell a lot in two 74 00:03:26,400 --> 00:03:28,800 Speaker 3: thousand and eight, so the revenue of those those companies fell. 75 00:03:29,360 --> 00:03:32,000 Speaker 3: And then also it was the trust element around for 76 00:03:32,040 --> 00:03:34,880 Speaker 3: your customers. So you know, it was really a baptism 77 00:03:34,920 --> 00:03:37,400 Speaker 3: of fire. But also you know, I developed a deep 78 00:03:37,480 --> 00:03:40,640 Speaker 3: fascination of how the markets work and the asset management 79 00:03:40,640 --> 00:03:43,760 Speaker 3: industry in general, but it was a more general grounding 80 00:03:44,160 --> 00:03:46,040 Speaker 3: in understanding business and trust. 81 00:03:46,280 --> 00:03:47,520 Speaker 4: You know, that for me was the thing. 82 00:03:48,000 --> 00:03:50,480 Speaker 2: So so you do that and then you end up 83 00:03:50,480 --> 00:03:53,080 Speaker 2: working for Volvo and you were basically, as I understand it, 84 00:03:53,760 --> 00:03:57,840 Speaker 2: running their sort of international finances or the financing of cars. 85 00:03:57,880 --> 00:03:58,920 Speaker 4: What role were you playing? 86 00:03:59,520 --> 00:04:02,680 Speaker 3: Yeah, So you know, FoST forward about ten years and 87 00:04:03,480 --> 00:04:06,120 Speaker 3: I spent you know, nine years in South Africa building 88 00:04:06,120 --> 00:04:10,440 Speaker 3: a financial technology business. And after that business was sold, 89 00:04:10,560 --> 00:04:12,160 Speaker 3: I received a allowed. 90 00:04:11,880 --> 00:04:13,800 Speaker 2: To tell us which one it was, Yeah, it was 91 00:04:13,920 --> 00:04:14,320 Speaker 2: art Vest. 92 00:04:15,400 --> 00:04:15,760 Speaker 4: Yeah. 93 00:04:15,880 --> 00:04:19,880 Speaker 3: So that business was sold to Alex Forbes, a phenomenal 94 00:04:20,040 --> 00:04:23,279 Speaker 3: so proud of that business anyway. And after that business 95 00:04:23,320 --> 00:04:27,279 Speaker 3: was sold, I received a what can only be described 96 00:04:27,320 --> 00:04:29,719 Speaker 3: as a once in a lifetime never to be repeated 97 00:04:29,760 --> 00:04:33,839 Speaker 3: offer to suddenly go and join Volvo cause in Sweden 98 00:04:33,960 --> 00:04:37,640 Speaker 3: in the finance industry, you know. And so my family 99 00:04:37,680 --> 00:04:40,120 Speaker 3: and I, after the sale of the business, packed up 100 00:04:40,120 --> 00:04:43,680 Speaker 3: our bags and you know, I think the deal closed 101 00:04:43,680 --> 00:04:45,919 Speaker 3: on the first of February twenty twenty four, and fifteen 102 00:04:46,000 --> 00:04:49,240 Speaker 3: days later I walked into an office in Stockholm, completely 103 00:04:49,480 --> 00:04:54,480 Speaker 3: none the wiser and started out and my role was 104 00:04:54,480 --> 00:04:58,280 Speaker 3: was basically to help them develop their internal operating lease 105 00:04:58,400 --> 00:05:00,000 Speaker 3: business they had round it a sort of a very 106 00:05:00,480 --> 00:05:03,560 Speaker 3: very very clever operating lease business and look after help 107 00:05:03,600 --> 00:05:04,960 Speaker 3: look after the financial. 108 00:05:04,520 --> 00:05:07,160 Speaker 4: Services aspects of Volvo Cars globally. 109 00:05:07,160 --> 00:05:10,800 Speaker 3: And that role quickly morphed into something that was you know, 110 00:05:11,000 --> 00:05:14,880 Speaker 3: much more I mean dramatic in a way, and with 111 00:05:15,000 --> 00:05:17,760 Speaker 3: a very short order of time. I was looking after 112 00:05:17,760 --> 00:05:21,400 Speaker 3: global financial services at Volvo Cars, and that was a 113 00:05:21,960 --> 00:05:23,640 Speaker 3: you know, at the same time, getting the family to 114 00:05:23,680 --> 00:05:26,400 Speaker 3: adjust to Sweden, getting the kids into school. 115 00:05:26,560 --> 00:05:28,359 Speaker 2: You can't think of a different, more different climate. 116 00:05:28,400 --> 00:05:29,440 Speaker 4: Eh Yeah. 117 00:05:29,520 --> 00:05:31,919 Speaker 3: I like to say that I changed everything. I changed 118 00:05:31,920 --> 00:05:35,360 Speaker 3: my geography, my industry, my language, my country. I literally 119 00:05:35,440 --> 00:05:39,000 Speaker 3: changed my entire life in the spirit of fifteen days, 120 00:05:39,600 --> 00:05:43,240 Speaker 3: and I didn't stop to think about it. But you know, 121 00:05:44,000 --> 00:05:47,160 Speaker 3: it's amazing how resilient people can be. And I think, 122 00:05:47,279 --> 00:05:50,159 Speaker 3: you know, moving the family over there, it gave me 123 00:05:50,160 --> 00:05:54,240 Speaker 3: an opportunity to watch my children develop and grow some 124 00:05:54,240 --> 00:05:55,600 Speaker 3: sort of resilience. 125 00:05:55,120 --> 00:05:56,440 Speaker 4: And also for myself as well. 126 00:05:56,480 --> 00:05:57,920 Speaker 3: I mean, I didn't know that I could do it, 127 00:05:59,200 --> 00:06:02,599 Speaker 3: and I think what me was you know, I changed 128 00:06:02,640 --> 00:06:06,279 Speaker 3: those industries, but the fundamentals of business remain, and the 129 00:06:06,320 --> 00:06:10,200 Speaker 3: cornerstone of most of that is actually just trust. And 130 00:06:10,360 --> 00:06:13,880 Speaker 3: I was put into some situations where and you know 131 00:06:13,920 --> 00:06:18,640 Speaker 3: that I had to go and literally negotiate on behalf 132 00:06:18,640 --> 00:06:23,600 Speaker 3: of Volver Cars globally on some very interesting transactions, and 133 00:06:23,680 --> 00:06:25,680 Speaker 3: I think the way that they worked out was just 134 00:06:26,520 --> 00:06:28,560 Speaker 3: the idea that and it almost goes back to what 135 00:06:28,600 --> 00:06:30,880 Speaker 3: your earlier callers said is you know, say what you 136 00:06:30,960 --> 00:06:34,320 Speaker 3: mean and make sure that you don't overpromise and just 137 00:06:34,400 --> 00:06:37,479 Speaker 3: be as ethical and as honest as possible, and that's 138 00:06:37,520 --> 00:06:39,240 Speaker 3: seen me through a lot of my life. 139 00:06:40,400 --> 00:06:43,400 Speaker 2: Yeah, it's interesting how often I still see people who 140 00:06:43,440 --> 00:06:46,680 Speaker 2: are successful in this society despite all of the obstacles 141 00:06:46,720 --> 00:06:49,440 Speaker 2: in front of them, and as often because they've been honest, 142 00:06:49,440 --> 00:06:52,200 Speaker 2: and people appoint them to jobs because of that, you know, 143 00:06:52,440 --> 00:06:55,719 Speaker 2: because they've been honest when other people around them haven't been. 144 00:06:55,920 --> 00:06:57,640 Speaker 2: You can sort of see, oh, this person's going to 145 00:06:57,640 --> 00:07:01,359 Speaker 2: go far because actually they can stay honest, and sometimes 146 00:07:01,360 --> 00:07:04,040 Speaker 2: it can be a hard thing. So you're doing this 147 00:07:04,240 --> 00:07:09,520 Speaker 2: kind of very financial job running Volvo cast South Africa, 148 00:07:09,560 --> 00:07:12,120 Speaker 2: obviously heavily financial, but I kind of see it as 149 00:07:12,160 --> 00:07:13,760 Speaker 2: a slightly different role. 150 00:07:14,000 --> 00:07:15,280 Speaker 4: It's very different. Yeah. 151 00:07:16,200 --> 00:07:21,040 Speaker 3: So about June twenty twenty five, I got made another 152 00:07:21,840 --> 00:07:25,440 Speaker 3: never to be repeated once in a lifetime offer and 153 00:07:25,600 --> 00:07:29,080 Speaker 3: the net result was that we emigrated from Sweden to 154 00:07:29,120 --> 00:07:33,200 Speaker 3: Stockholm in twenty twenty four, and then we emigrated from Stockholm. 155 00:07:33,600 --> 00:07:36,760 Speaker 3: So we emigrated from Centurion to Stockholm in twenty twenty four, 156 00:07:36,800 --> 00:07:40,200 Speaker 3: and then we emigrated from Stockholm to Centurion all the 157 00:07:40,200 --> 00:07:42,720 Speaker 3: way back again just you know, sixteen months later. 158 00:07:43,360 --> 00:07:45,640 Speaker 4: So it was quite a crazy, crazy. 159 00:07:45,320 --> 00:07:49,240 Speaker 3: Journey and then landing up in Volvocast South Africa, and 160 00:07:49,520 --> 00:07:52,120 Speaker 3: the way that they work in terms of a local 161 00:07:52,560 --> 00:07:57,000 Speaker 3: OEM importer is effectively it's a wholly owned company of 162 00:07:57,080 --> 00:08:01,120 Speaker 3: Volvoco globally and it's responsible for the portation of Volver 163 00:08:01,320 --> 00:08:03,840 Speaker 3: cars in South Africa and the managing of the dealer 164 00:08:03,880 --> 00:08:07,360 Speaker 3: network and the marketing and of course the products and 165 00:08:07,440 --> 00:08:11,240 Speaker 3: the pricing. So again it goes back to the fundamentals 166 00:08:11,240 --> 00:08:14,840 Speaker 3: of business. It's partly trust, but also the relationship of 167 00:08:14,920 --> 00:08:18,520 Speaker 3: the functions of marketing, the functions of operations, the functions 168 00:08:18,560 --> 00:08:22,000 Speaker 3: of product and pricing. All of those things actually hang 169 00:08:22,080 --> 00:08:24,080 Speaker 3: together in the same way, shape and form. And I 170 00:08:24,120 --> 00:08:27,560 Speaker 3: think that's been the biggest lesson over the past four 171 00:08:27,680 --> 00:08:30,400 Speaker 3: years is you know, you can change someone's entire industry, 172 00:08:30,400 --> 00:08:32,840 Speaker 3: but as long as they understand the fundamentals of how 173 00:08:33,400 --> 00:08:34,839 Speaker 3: the various functions of a. 174 00:08:34,800 --> 00:08:36,840 Speaker 4: Business work together, they work like leavers. 175 00:08:37,679 --> 00:08:39,720 Speaker 3: And if you understand them and you do it in 176 00:08:39,760 --> 00:08:43,360 Speaker 3: a trustworthy and ethical way most of the time, hopefully 177 00:08:43,800 --> 00:08:44,800 Speaker 3: probably going to be okay. 178 00:08:45,800 --> 00:08:49,160 Speaker 2: I mean I always found honest it's just simpler. 179 00:08:49,920 --> 00:08:50,199 Speaker 4: You know. 180 00:08:50,840 --> 00:08:52,560 Speaker 2: I always think of people in line and think you 181 00:08:52,679 --> 00:08:53,920 Speaker 2: must be quite clever and. 182 00:08:53,920 --> 00:08:54,679 Speaker 4: How you remember all that? 183 00:08:54,880 --> 00:08:59,080 Speaker 2: Yeah, okay, so Volvo in South Africa. Now, now I 184 00:08:59,120 --> 00:09:01,000 Speaker 2: made the point of the stafy that the car industry 185 00:09:01,040 --> 00:09:03,640 Speaker 2: is going through several changes, quite a few big changes, 186 00:09:03,679 --> 00:09:07,080 Speaker 2: more than many other industries. Actually, how do you see 187 00:09:07,120 --> 00:09:09,880 Speaker 2: that for Volvo in South Africa specifically, because I mean 188 00:09:10,040 --> 00:09:12,880 Speaker 2: five ten years ago, almost all of your cars, certainly 189 00:09:12,880 --> 00:09:16,719 Speaker 2: ten years ago, would have been petrol or diesel and 190 00:09:16,760 --> 00:09:20,480 Speaker 2: they were kind of, let me use a few non 191 00:09:20,520 --> 00:09:25,200 Speaker 2: scientific words, that kind of fancy, bit expensive, maybe very nice. 192 00:09:25,320 --> 00:09:28,760 Speaker 2: Wouldn't mind driving my children around them. Maybe my friends 193 00:09:28,760 --> 00:09:31,160 Speaker 2: who had did be comms instead of journalism would have one, 194 00:09:31,400 --> 00:09:34,120 Speaker 2: and in fact one did my brother who did law too. 195 00:09:35,240 --> 00:09:38,360 Speaker 2: But now I see Volver more as one of the 196 00:09:38,400 --> 00:09:41,800 Speaker 2: companies that's doing things almost before other people aren't, particularly 197 00:09:41,880 --> 00:09:45,640 Speaker 2: with electric cars in a market which hasn't quite embraced 198 00:09:45,679 --> 00:09:46,200 Speaker 2: that yet. 199 00:09:46,559 --> 00:09:48,400 Speaker 3: No, and I think there's still a long way to go. 200 00:09:49,240 --> 00:09:51,840 Speaker 3: But I think, just going back to Volva, I think 201 00:09:52,520 --> 00:09:56,200 Speaker 3: you know, in global context, Volva is not a large 202 00:09:56,240 --> 00:10:00,440 Speaker 3: global manufacturer. It's fairly boutique in the way that it rates, 203 00:10:01,240 --> 00:10:04,480 Speaker 3: and it's still predominantly and at the heart of it, 204 00:10:04,480 --> 00:10:07,199 Speaker 3: it is a Swedish company, The management team is Swedish, 205 00:10:07,320 --> 00:10:10,240 Speaker 3: the product design is engineered in Sweden. It's all that 206 00:10:10,440 --> 00:10:15,640 Speaker 3: mostly actually Swedish cars. And what has happened though in 207 00:10:16,080 --> 00:10:19,600 Speaker 3: that sort of nature is really going back to some 208 00:10:19,720 --> 00:10:24,160 Speaker 3: of the ethos of it's almost around sustainability. So there 209 00:10:24,240 --> 00:10:28,160 Speaker 3: is there is a picture around elect the value of electrification, 210 00:10:28,920 --> 00:10:32,000 Speaker 3: but it also stems back into a feeling of global 211 00:10:32,040 --> 00:10:34,920 Speaker 3: responsibility that is very I mean, you know, when I 212 00:10:34,960 --> 00:10:38,679 Speaker 3: spent two years in Sweden, it you know, we can 213 00:10:38,720 --> 00:10:41,240 Speaker 3: talk about it in a sort of an almost a 214 00:10:42,440 --> 00:10:46,000 Speaker 3: ferial sort of way, but in reality, at the Stockholm, 215 00:10:46,160 --> 00:10:49,560 Speaker 3: at the Gothenburg headquarters Revolver cars, it's actually embedded in 216 00:10:49,600 --> 00:10:52,720 Speaker 3: the culture along with safety. And so what they did 217 00:10:52,880 --> 00:10:55,760 Speaker 3: was they didn't have the opportunity in the early days 218 00:10:55,800 --> 00:11:00,640 Speaker 3: to engineer all power trains diesels and petrols and electric 219 00:11:00,679 --> 00:11:03,200 Speaker 3: cars in the same way. They had to take a chance, 220 00:11:04,280 --> 00:11:07,440 Speaker 3: and that chance was electrification. So they started a while ago. 221 00:11:07,480 --> 00:11:11,160 Speaker 3: The first ever plug in hybrid that the mass market, 222 00:11:11,200 --> 00:11:13,240 Speaker 3: one that I can think of at the moment, was 223 00:11:13,280 --> 00:11:16,920 Speaker 3: the XC ninety, the true plug in hybrid XT ninety 224 00:11:17,000 --> 00:11:19,360 Speaker 3: launched in twenty fourteen. I think it is in South 225 00:11:19,360 --> 00:11:22,520 Speaker 3: Africa and globally, and then they really went on a 226 00:11:22,559 --> 00:11:25,960 Speaker 3: strong drive to continue that process and dropping the diesels 227 00:11:25,960 --> 00:11:28,600 Speaker 3: in twenty nineteen in South Africa. Whilst it was a 228 00:11:28,640 --> 00:11:31,480 Speaker 3: major hit to the sales numbers of Volvo cars, in 229 00:11:31,520 --> 00:11:35,800 Speaker 3: reality the mindset was more twenty years in the future. 230 00:11:36,920 --> 00:11:40,000 Speaker 3: And I think now it's only really now that after 231 00:11:40,200 --> 00:11:43,040 Speaker 3: all of those years of engineering that you're starting to 232 00:11:43,080 --> 00:11:46,480 Speaker 3: see the true result of the products coming through. And 233 00:11:46,559 --> 00:11:50,280 Speaker 3: so the product range at the moment is sort of evolving. 234 00:11:51,000 --> 00:11:53,760 Speaker 4: The maturity of evs if you. 235 00:11:53,679 --> 00:11:56,480 Speaker 3: Think about it, they started on relatively low ranges. They 236 00:11:56,480 --> 00:12:00,600 Speaker 3: were quite inefficient, you know, the software was difficult to operate. 237 00:12:00,640 --> 00:12:05,760 Speaker 3: Sometimes that is maturing at such a rapid rate it's unbelievable. 238 00:12:06,640 --> 00:12:10,320 Speaker 2: And it's not just Volvo, no, it's I mean, we're 239 00:12:10,360 --> 00:12:12,680 Speaker 2: going to see a lot more by D electric cars. 240 00:12:12,760 --> 00:12:14,720 Speaker 2: Oh you know, I see them on the roads now. 241 00:12:14,760 --> 00:12:16,439 Speaker 2: I didn't see them a year ago. But this is 242 00:12:16,480 --> 00:12:19,480 Speaker 2: the exciting thing about South Africa, right. So if you 243 00:12:19,520 --> 00:12:22,320 Speaker 2: looked at the total market share of EV's in South Africa, 244 00:12:22,320 --> 00:12:26,040 Speaker 2: it's almost ignorable, very very small. But I think what 245 00:12:26,120 --> 00:12:29,160 Speaker 2: people are missing is the rate of change and the 246 00:12:29,240 --> 00:12:32,160 Speaker 2: rate of change is not just being driven by consumer behavior, 247 00:12:32,240 --> 00:12:34,679 Speaker 2: I mean the fuel prices at the moment or causing interest, 248 00:12:35,120 --> 00:12:38,360 Speaker 2: maybe not necessarily switching yet, but certainly the rate of 249 00:12:38,480 --> 00:12:40,839 Speaker 2: change is being driven also by the manufacturers. If you 250 00:12:40,880 --> 00:12:43,080 Speaker 2: looked at the number of models that are coming to 251 00:12:43,120 --> 00:12:45,520 Speaker 2: South Africa that are full ev though. 252 00:12:45,480 --> 00:12:49,360 Speaker 3: That number is significant, and that marketing budget and that 253 00:12:49,520 --> 00:12:52,680 Speaker 3: product experiences, and then you see when driving around the 254 00:12:52,760 --> 00:12:55,559 Speaker 3: road around you where you live, suddenly you think about it, 255 00:12:55,880 --> 00:12:58,040 Speaker 3: and that I think will increase the rate of change 256 00:12:58,040 --> 00:13:00,280 Speaker 3: of eDV adoption. And the problem is is that, well, 257 00:13:00,440 --> 00:13:03,119 Speaker 3: the benefit is I think it'll happen sooner than people think. 258 00:13:03,400 --> 00:13:05,800 Speaker 2: So, I mean, I tend to agree with you only 259 00:13:05,840 --> 00:13:09,280 Speaker 2: because it's going to be cheaper at first only for 260 00:13:09,360 --> 00:13:12,280 Speaker 2: people with solar installations, which is quite a few people 261 00:13:12,320 --> 00:13:15,959 Speaker 2: in some parts of the country and certainly in suburban areas, 262 00:13:16,000 --> 00:13:18,000 Speaker 2: but people who rely on ESKIM is probably still going 263 00:13:18,040 --> 00:13:20,720 Speaker 2: to be quite quite an expensive thing for the moment 264 00:13:20,760 --> 00:13:22,720 Speaker 2: at least. The other issue, of course. 265 00:13:22,559 --> 00:13:23,280 Speaker 4: Is long distance. 266 00:13:23,800 --> 00:13:26,480 Speaker 2: Now I probably shouldn't tell you this, but my family 267 00:13:26,520 --> 00:13:30,760 Speaker 2: likes camping, and I'm not convinced that the electric car 268 00:13:30,840 --> 00:13:33,880 Speaker 2: is such a good idea for going, you know, hundreds 269 00:13:33,880 --> 00:13:36,960 Speaker 2: of k's away with the trailer and bicycle. 270 00:13:37,040 --> 00:13:39,920 Speaker 3: I think I can change your mind right now. I'm 271 00:13:39,920 --> 00:13:42,839 Speaker 3: going to change your mind right now. I'm not going 272 00:13:42,840 --> 00:13:44,560 Speaker 3: to accept a free v for right No no, no, no, 273 00:13:44,559 --> 00:13:47,440 Speaker 3: no no no. But I so one of the things 274 00:13:47,440 --> 00:13:49,680 Speaker 3: that electric vehicles now off, a lot of them often 275 00:13:50,400 --> 00:13:50,880 Speaker 3: is what's. 276 00:13:50,720 --> 00:13:53,680 Speaker 4: Called vehicle to load. Yeah, so you go, you camp 277 00:13:54,240 --> 00:13:54,680 Speaker 4: and then. 278 00:13:54,559 --> 00:13:57,480 Speaker 3: You plug your car, you plug all your appliances into 279 00:13:57,480 --> 00:14:01,560 Speaker 3: your car. So that's I mean, that's a tiny little feature. 280 00:14:01,600 --> 00:14:03,880 Speaker 3: But I want to get back to almost the daily use. 281 00:14:03,920 --> 00:14:06,360 Speaker 3: And I think what's really I mean, I drive an 282 00:14:06,360 --> 00:14:09,440 Speaker 3: EV every day, and I mean I don't necessarily use 283 00:14:09,480 --> 00:14:12,520 Speaker 3: the solo so much. What I do is I charge overnight, 284 00:14:13,200 --> 00:14:16,320 Speaker 3: and I charge overnight on the lower tariffs that ESCOM offers. 285 00:14:17,120 --> 00:14:19,720 Speaker 3: And so if you're only doing sixty kilometers a day 286 00:14:19,800 --> 00:14:23,200 Speaker 3: or seventy kilometers a day of daily traffic, a daily traveling, 287 00:14:23,440 --> 00:14:25,400 Speaker 3: you get home at night, you plug in your electric car. 288 00:14:25,560 --> 00:14:27,720 Speaker 3: You don't even have to have a fancy wall box. 289 00:14:27,760 --> 00:14:29,720 Speaker 3: You can get a temporary charger that charges the car 290 00:14:30,120 --> 00:14:32,920 Speaker 3: to killowatts and then the next day all of your 291 00:14:33,000 --> 00:14:36,320 Speaker 3: range and more is replenished. And if you just continue 292 00:14:36,360 --> 00:14:40,240 Speaker 3: to do that, you're the way that you utilize your 293 00:14:40,320 --> 00:14:43,640 Speaker 3: time changes. And that's the important bit and the other thing. 294 00:14:43,720 --> 00:14:45,240 Speaker 3: And it's a small thing, and I know it's a 295 00:14:45,280 --> 00:14:47,720 Speaker 3: small thing, but I really this is a personal thing 296 00:14:48,480 --> 00:14:50,880 Speaker 3: because every time I leave the house early in the 297 00:14:50,880 --> 00:14:52,520 Speaker 3: morning to catch a flight or something like that and 298 00:14:52,560 --> 00:14:55,400 Speaker 3: I get into the electric car, it doesn't make a sound, 299 00:14:55,440 --> 00:14:59,080 Speaker 3: it doesn't disturb anyone. And I think those kind of so, 300 00:14:59,280 --> 00:15:02,040 Speaker 3: I mean, it's a very soft social benefit, but in 301 00:15:02,040 --> 00:15:04,400 Speaker 3: my view that when you couple with the charging, is 302 00:15:04,840 --> 00:15:06,360 Speaker 3: sort of becoming more and more. 303 00:15:08,200 --> 00:15:08,960 Speaker 4: More and more accepted. 304 00:15:09,000 --> 00:15:10,960 Speaker 3: And I think the last thing is when I joined 305 00:15:11,360 --> 00:15:14,120 Speaker 3: in August last year, I needed to prove to myself 306 00:15:14,800 --> 00:15:17,360 Speaker 3: now I'm not going to be the ambassador for Volvo 307 00:15:17,440 --> 00:15:20,560 Speaker 3: EV's in South Africa. So what I did was I 308 00:15:20,640 --> 00:15:23,800 Speaker 3: got one of Volvo's EV's and I drove it all 309 00:15:23,920 --> 00:15:25,880 Speaker 3: over South Africa. I did over seven and a half 310 00:15:26,080 --> 00:15:31,320 Speaker 3: thousand kilometers Joeberg to kazd n kase it En, through Bloemfontein, Colesberg, 311 00:15:31,400 --> 00:15:34,000 Speaker 3: craft ren it Pe, then all the way up to 312 00:15:34,040 --> 00:15:36,120 Speaker 3: Cape Town, then back through the Eastern Cape back to 313 00:15:36,240 --> 00:15:40,480 Speaker 3: Kasa n then joe Burg and not once did I 314 00:15:40,520 --> 00:15:42,320 Speaker 3: have an issue where I ran out of charge. 315 00:15:43,160 --> 00:15:46,560 Speaker 2: Okay, so that the problem that I think people might 316 00:15:46,600 --> 00:15:48,880 Speaker 2: see is that yes, I might be able to find electricity, 317 00:15:48,920 --> 00:15:51,920 Speaker 2: but no one wants to be stuck at Three Sisters 318 00:15:52,040 --> 00:15:54,800 Speaker 2: in the middle of the Karu because there is a 319 00:15:54,840 --> 00:15:57,400 Speaker 2: petrol station there, or there was the last time I checked, 320 00:15:57,400 --> 00:15:58,880 Speaker 2: and you could fill up in ten minutes and be 321 00:15:58,960 --> 00:16:02,960 Speaker 2: on your way. I doubt they have a fast charger, 322 00:16:03,120 --> 00:16:04,800 Speaker 2: which means that if you need a charge, so you're 323 00:16:04,800 --> 00:16:05,720 Speaker 2: going to wait anw. 324 00:16:07,200 --> 00:16:09,760 Speaker 4: And it's hot and three three Sisters. 325 00:16:09,800 --> 00:16:13,480 Speaker 3: But I think you're you're you know, the technology at 326 00:16:13,520 --> 00:16:15,880 Speaker 3: the moment is such that when you when you plan 327 00:16:15,960 --> 00:16:16,800 Speaker 3: a journey in an EV. 328 00:16:16,960 --> 00:16:18,960 Speaker 4: Now, yeah, and I don't know if people. 329 00:16:18,720 --> 00:16:21,560 Speaker 3: Know this, but what the evs do is they actually 330 00:16:21,560 --> 00:16:24,760 Speaker 3: go through and plan your route through the charging stops. 331 00:16:25,440 --> 00:16:29,000 Speaker 3: And it's becoming even checked whether the charging stops are 332 00:16:29,000 --> 00:16:31,360 Speaker 3: online or not, or whether they were active and last used. 333 00:16:31,760 --> 00:16:34,120 Speaker 3: So now you're starting to have the journeys planned for 334 00:16:34,200 --> 00:16:36,040 Speaker 3: you and the charging on the long stops. I mean 335 00:16:36,040 --> 00:16:38,840 Speaker 3: I'm driving tomorrow actually all the way to the Eastern 336 00:16:38,880 --> 00:16:41,920 Speaker 3: Cape on an EV So if you see me, please wave. 337 00:16:43,360 --> 00:16:46,000 Speaker 3: Hopefully I won't Hopefully I'll get there easily enough, but 338 00:16:46,160 --> 00:16:47,080 Speaker 3: I'm pretty confident. 339 00:16:47,760 --> 00:16:49,960 Speaker 2: We're speaking to Grant Locke. He's the managing director of 340 00:16:50,040 --> 00:16:52,800 Speaker 2: Volvo Cars South Africa. He's your shape shifter tonight on 341 00:16:52,840 --> 00:16:53,720 Speaker 2: the Money Shows. 342 00:16:53,880 --> 00:16:56,040 Speaker 1: The Money Show Shape Shifters. 343 00:16:56,720 --> 00:16:59,240 Speaker 2: We're speaking to Gary Locke tonight, the managing director of 344 00:16:59,280 --> 00:17:03,120 Speaker 2: Volvo Cars South Africa. Gary, you mentioned something as we 345 00:17:03,120 --> 00:17:04,639 Speaker 2: were going to the break which I thought was very 346 00:17:04,680 --> 00:17:07,359 Speaker 2: interesting about how the car will plan your route for 347 00:17:07,480 --> 00:17:11,720 Speaker 2: you through charging stations. Now, all of my life when 348 00:17:11,760 --> 00:17:14,840 Speaker 2: I bought a car, and my father who is real 349 00:17:14,880 --> 00:17:19,359 Speaker 2: petrol heading and before me you talk, the things you 350 00:17:19,400 --> 00:17:21,800 Speaker 2: would think about would be the model that we'd probably 351 00:17:21,800 --> 00:17:24,080 Speaker 2: start with, the make, then the model, and then the 352 00:17:24,119 --> 00:17:27,280 Speaker 2: engine size and then how many gears and then automatic 353 00:17:27,359 --> 00:17:30,320 Speaker 2: or whatever? Are we going to move to an era? 354 00:17:30,440 --> 00:17:32,800 Speaker 2: Do you think where one of the big factors we'll 355 00:17:32,840 --> 00:17:35,359 Speaker 2: consider is the software? How old is the software? How 356 00:17:35,560 --> 00:17:39,160 Speaker 2: batable is it? Which car maker has the best software 357 00:17:39,280 --> 00:17:43,200 Speaker 2: rather than which car maker makes the best engine. Yes, 358 00:17:44,080 --> 00:17:46,080 Speaker 2: in a way I'm scared now in a way. 359 00:17:46,119 --> 00:17:48,240 Speaker 3: In a way, but I think I think we still 360 00:17:48,280 --> 00:17:50,800 Speaker 3: got the fun part of looking at the size of 361 00:17:50,800 --> 00:17:53,680 Speaker 3: the battery and the power output of. 362 00:17:53,640 --> 00:17:54,560 Speaker 4: The car as well, So. 363 00:17:54,480 --> 00:17:56,320 Speaker 3: We've still got all of those things that we all 364 00:17:56,440 --> 00:17:58,320 Speaker 3: used to love as petrol heads as well. 365 00:17:59,080 --> 00:18:00,000 Speaker 4: But I think what's happened. 366 00:18:00,000 --> 00:18:03,800 Speaker 3: I think the benefits of having a vehicle defined by 367 00:18:03,840 --> 00:18:07,720 Speaker 3: software is that it can continuously be updated and fixed. 368 00:18:08,080 --> 00:18:09,040 Speaker 4: And I think that's. 369 00:18:08,880 --> 00:18:12,359 Speaker 3: Really the that's really the tough part that all and 370 00:18:12,480 --> 00:18:14,840 Speaker 3: I believe this, but all OEMs will start to get 371 00:18:14,840 --> 00:18:16,719 Speaker 3: to a point where they will start to create software 372 00:18:16,720 --> 00:18:21,119 Speaker 3: defined vehicles, and it's very difficult for a manufacturer to 373 00:18:21,160 --> 00:18:24,640 Speaker 3: do this. It's not necessarily always in their DNA. They 374 00:18:24,640 --> 00:18:27,760 Speaker 3: have to shift a big portion of how they build products, 375 00:18:27,880 --> 00:18:31,040 Speaker 3: design and think about these things. But the benefits of 376 00:18:31,080 --> 00:18:34,040 Speaker 3: having a software defined vehicle are all of a sudden 377 00:18:34,080 --> 00:18:38,160 Speaker 3: you can start to learn from traffic accidents or other 378 00:18:38,200 --> 00:18:40,680 Speaker 3: sorts of aspects on the road environment that the car 379 00:18:40,720 --> 00:18:44,200 Speaker 3: can now become aware of, take that context and provide 380 00:18:44,240 --> 00:18:47,160 Speaker 3: you more safe inputs to your driving. It's a key 381 00:18:47,160 --> 00:18:51,359 Speaker 3: input into learning about autonomous driving. So software defined vehicles 382 00:18:51,359 --> 00:18:55,199 Speaker 3: are absolutely critical, but it's not necessarily It's got a 383 00:18:55,320 --> 00:18:58,679 Speaker 3: very well defined purpose in safety almost more than anything 384 00:18:58,680 --> 00:18:59,760 Speaker 3: else in my view. 385 00:19:00,000 --> 00:19:01,639 Speaker 2: As long as you don't ever need to press control 386 00:19:01,680 --> 00:19:05,560 Speaker 2: often delete at the center. Mister wi Fi at Desmond 387 00:19:05,640 --> 00:19:08,480 Speaker 2: as message saying Stephen, please ask your guest why all 388 00:19:08,480 --> 00:19:11,440 Speaker 2: the hype around the Vulva EES ninety with twin motors 389 00:19:11,440 --> 00:19:14,280 Speaker 2: and all wheel drive, and then Vulver released the E 390 00:19:14,440 --> 00:19:16,679 Speaker 2: S ninety with only a single engine and a single 391 00:19:16,680 --> 00:19:18,640 Speaker 2: motor I presume, and no all wheel drive. 392 00:19:19,520 --> 00:19:21,359 Speaker 3: That's just the model we've brought into the country in 393 00:19:21,400 --> 00:19:23,600 Speaker 3: the launch model, but of course in the future we 394 00:19:23,640 --> 00:19:26,439 Speaker 3: will aim to bring in the twin engines and the 395 00:19:26,480 --> 00:19:30,320 Speaker 3: oil drive platform. I think the single motor extended ranges 396 00:19:30,520 --> 00:19:34,199 Speaker 3: of the E S ninety give a phenomenal range of 397 00:19:34,200 --> 00:19:37,760 Speaker 3: about seven hundred and fifty kilometers sure, and that for 398 00:19:37,880 --> 00:19:40,239 Speaker 3: us was an electric charge. Yeah, that was really the 399 00:19:40,280 --> 00:19:42,639 Speaker 3: main point for us. But of course there's nothing stopping 400 00:19:42,680 --> 00:19:45,480 Speaker 3: us from bringing the twin engines in the future. At 401 00:19:45,520 --> 00:19:48,080 Speaker 3: the moment, we've got the sister of that cars, the 402 00:19:48,119 --> 00:19:50,440 Speaker 3: EX ninety, which is the big SCUV, is the seven 403 00:19:50,520 --> 00:19:54,679 Speaker 3: ced suv that comes in a twin engine out the 404 00:19:54,720 --> 00:19:58,879 Speaker 3: box available to customers today. And I think if you 405 00:19:58,920 --> 00:20:02,160 Speaker 3: looked at the mo ranges across, just to take a point, 406 00:20:02,160 --> 00:20:05,320 Speaker 3: for all electric cars, you're looking at single motors and 407 00:20:05,359 --> 00:20:07,240 Speaker 3: twin motors and sometimes three motors. 408 00:20:08,320 --> 00:20:10,000 Speaker 4: Plus the size of the battery. 409 00:20:09,640 --> 00:20:12,320 Speaker 3: Will give you an idea of the amount of power 410 00:20:12,359 --> 00:20:14,880 Speaker 3: that that car can put down, and it's significant. 411 00:20:17,200 --> 00:20:19,440 Speaker 2: One of the things that I think you're going to face, 412 00:20:19,520 --> 00:20:22,520 Speaker 2: as I see it as Volvo, is that South Africa 413 00:20:22,600 --> 00:20:26,160 Speaker 2: is a very price conscious market, very especially at the moment. 414 00:20:26,240 --> 00:20:29,320 Speaker 2: There are a lot I'm sure you know, there's lots 415 00:20:29,359 --> 00:20:31,680 Speaker 2: of cars that are cheaper than yours, and there will 416 00:20:31,680 --> 00:20:33,919 Speaker 2: only be more of them, and there will be electric, 417 00:20:34,000 --> 00:20:37,360 Speaker 2: they'll have great ranges, they'll have updated Wi Fi this, 418 00:20:37,440 --> 00:20:40,439 Speaker 2: they'll have things I can't even begin to understand. How 419 00:20:40,480 --> 00:20:43,000 Speaker 2: are you going to stand out in that market because 420 00:20:43,320 --> 00:20:48,560 Speaker 2: we all know how big China's sort of China's car 421 00:20:48,640 --> 00:20:51,119 Speaker 2: complex is at the moment, and that's because your cars 422 00:20:51,119 --> 00:20:53,920 Speaker 2: are made there too, he says, very quietly. But how 423 00:20:53,920 --> 00:20:56,159 Speaker 2: do you stand out at a time when there's going 424 00:20:56,200 --> 00:20:57,800 Speaker 2: to be huge competition in price. 425 00:20:59,480 --> 00:21:02,960 Speaker 3: That's a very good point, and I think that in 426 00:21:03,440 --> 00:21:08,080 Speaker 3: my case, it's a relatively simple differentiator, and that really 427 00:21:08,160 --> 00:21:12,520 Speaker 3: is safety. It really is the DNA of Volvo and 428 00:21:12,600 --> 00:21:14,920 Speaker 3: the cars we produce and sell all over the world 429 00:21:14,920 --> 00:21:17,080 Speaker 3: are the same cars that are tested to euro and 430 00:21:17,119 --> 00:21:21,120 Speaker 3: Global cap safety standards. In fact, Volvo's got its own 431 00:21:21,160 --> 00:21:25,359 Speaker 3: safety standard, so it has got an incredible focus on 432 00:21:25,440 --> 00:21:29,000 Speaker 3: safety is the core ethos of the entire brand, and 433 00:21:29,040 --> 00:21:31,879 Speaker 3: I think that safety you should provide a level of 434 00:21:31,920 --> 00:21:36,360 Speaker 3: differentiation that's still important in the market, and I think 435 00:21:36,400 --> 00:21:39,480 Speaker 3: you'll see it as the results of standardized testing start 436 00:21:39,520 --> 00:21:42,840 Speaker 3: to become more well known amongst consumers, that they'll start 437 00:21:42,840 --> 00:21:46,200 Speaker 3: to better understand how that impacts their buying choices. That's 438 00:21:46,240 --> 00:21:50,240 Speaker 3: really why I think Volver stands out globally from that perspective. 439 00:21:50,240 --> 00:21:53,760 Speaker 3: The second element is that we're actually also owned by 440 00:21:54,200 --> 00:21:57,119 Speaker 3: Jili and I think one of the key elements that 441 00:21:57,200 --> 00:22:00,600 Speaker 3: was announced in the strategy update was that we all 442 00:22:00,680 --> 00:22:03,760 Speaker 3: start to partner with Julie and we have before on 443 00:22:03,800 --> 00:22:06,479 Speaker 3: some of the product development and benefit from the scale 444 00:22:06,520 --> 00:22:09,040 Speaker 3: that it that it brings, and I think that is 445 00:22:09,080 --> 00:22:10,480 Speaker 3: a key element for us. 446 00:22:12,320 --> 00:22:14,480 Speaker 2: I think we actually have one or two other questions 447 00:22:14,480 --> 00:22:17,040 Speaker 2: coming through this evening on voice notes tonight. I know 448 00:22:17,160 --> 00:22:19,600 Speaker 2: seven two seven two one seven o two. 449 00:22:19,680 --> 00:22:23,760 Speaker 1: Seven o two. My name is Nick. I recently had 450 00:22:24,040 --> 00:22:29,320 Speaker 1: an unfortunate incident with mar Volvo and the person that 451 00:22:29,440 --> 00:22:33,800 Speaker 1: called me while I was unseen waiting for some assistance 452 00:22:34,040 --> 00:22:38,320 Speaker 1: was actually Grant lock and all I can say is 453 00:22:38,400 --> 00:22:41,840 Speaker 1: a whole he was very empathetic and sympathetic with my 454 00:22:41,960 --> 00:22:47,560 Speaker 1: situation and the customer service I've received has basically made 455 00:22:47,600 --> 00:22:52,680 Speaker 1: me a customer for life. They arranged me a good 456 00:22:52,800 --> 00:22:57,040 Speaker 1: suka and I'm actually still driving it while the insurance 457 00:22:57,119 --> 00:23:01,800 Speaker 1: is busy finalizing my claim. So yeah, well done to Volvo, 458 00:23:02,000 --> 00:23:02,919 Speaker 1: Well done to Grant. 459 00:23:04,119 --> 00:23:07,440 Speaker 2: Grant. We get messages about corporates all the time, very 460 00:23:07,440 --> 00:23:08,680 Speaker 2: few of them are that positive. 461 00:23:08,720 --> 00:23:11,359 Speaker 4: I have to say I know exactly who that is. 462 00:23:12,720 --> 00:23:12,919 Speaker 4: You know. 463 00:23:13,640 --> 00:23:16,639 Speaker 3: One of the benefits of being a small brand is 464 00:23:16,680 --> 00:23:20,280 Speaker 3: that I can get involved at the customer level, and 465 00:23:20,880 --> 00:23:24,479 Speaker 3: especially when something like that happens to that customer. I 466 00:23:24,520 --> 00:23:26,960 Speaker 3: think at the end of the day, and I promise 467 00:23:27,000 --> 00:23:29,080 Speaker 3: you it's not just Volva. Sure you'll find that. 468 00:23:29,080 --> 00:23:31,520 Speaker 4: A lot of people just care and they try. 469 00:23:32,080 --> 00:23:34,480 Speaker 2: Grant Locke, thanks so much for coming in. Really appreciate 470 00:23:34,520 --> 00:23:37,280 Speaker 2: the time. Managing director of Volvo Cars A South Africa