This week, the first “Mexico EV Day: Financing for Electric Mobility in Mexico” was held as part of World Electric Vehicle Day.
The activity, organized by the Mexican Association for the Promotion of Electric Vehicles (AMIVE), was attended by the President of the Association, Francisco Cabeza Santillana.
Cabeza pointed out that companies with commercial fleets represent little more than 20% of the vehiclefleet, but generate more than 40% of the emissions associated with transportation.
You may also read: AMIVE: Mexico has Potencial to Lead the Electromobility Transition in the Region
“Yes, we can have more incentives, we can also build a better infrastructure, but these are all challenges in which we can continue to advance as long as we also advance in the electrification of our fleets,” he said.
Road Ahead
The President of AMIVE highlighted the progress made. However, he pointed out that the climate crisis requires a redoubling of efforts. He pointed out that although the fleet of hybrid and electric vehicles has increased 26-fold in the last eight years, there is still a long way to go to accelerate electrification, especially in key sectors such as public transport and logistics.
According to Cabeza, the increase in electric-only car registrations was remarkable last year, registering a year-on-year growth of 80%, reaching 15,000 units. However, this figure represents only 1% of the total automotive market.
Nevertheless, the executive was optimistic about the integration of the Mexican market with its trading partners in North America, which offers significant potential to take advantage of subsidies from the Inflation Reduction Act in the United States, which will reduce harmful air pollution, promote environmental justice, and save families money on their energy bills.
Francisco Cabeza highlighted the need to create financial mechanisms that allow companies and local governments to finance the transition to electric mobility at a lower capital cost.
Latam Mobility in Mexico
Latam Mobility, the largest sustainable mobility community in Latin America, will close 2024 in Mexico City.
There will be two days, on October 15 and 16, where industry leaders and private sector representatives will provide perspectives on mobility, electromobility, sustainability, among others.
The meeting will be held at the World Trade Center in Mexico City. For participation information click here.
