This briefing gives an overview of the status of ZEV development in Latin American economies.
EV adoption is underway in some Latin American markets for the passenger vehicle segment (Figure). The 2020 EV sales shares for passenger vehicles are scaling up in Costa Rica and Colombia at 0.6% each, and in Chile at 0.5%. Mexico and Brazil have higher EV sales but lower market shares due to their bigger market sizes. Mexico is the only ZEVTC member country among Latin American nations but is included in the Figure for a complete review of the region. Similar to developing countries in other regions, electric passenger car uptake is still at a very early stage in the Latin America.
Regarding bus segment, Chile and Colombia are home to the largest fleets of electric buses after China. By the end of 2020, Chile’s electric bus stock stood at more than 800 and Colombia had around 500 electric buses, with more on order. Argentina, Brazil, Ecuador, Uruguay, and Mexico have also put 20–70 electric buses into operation. Costa Rica, Panama, Paraguay, and Peru have several electric buses in pilot trials. The Latin American region is the second largest two-wheeler market after Southeast Asia, but the electrification of two-wheelers is in the earliest stages.
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