The Latin American Energy Organization (OLADE), published a report highlighting that Latin America and the Caribbean (LAC) are experiencing exponential growth in the adoption of electromobility.
The study “Electric Mobility in Latin America and the Caribbean” highlights that the fleet of electrified light-duty vehicles has grown in the last 4 years (2020-2024) more than 14 times, reaching a total of 249,079 units in circulation by the first half of 2024.
This growth is particularly notable in plug-in hybrid vehicles (PHEVs), which have increased 17-fold, while 100% electric vehicles (BEVs) have increased 12-fold in the same period.
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Brazil at the Forefront
Brazil leads the regional market with 152,493 electrified vehicles, followed by Mexico, Costa Rica, Colombia, and Chile. However, in per capita terms, Costa Rica is at the forefront with 34.3 electrified vehicles per 10,000 inhabitants, followed by Uruguay with 17.4 and Brazil with 7.
In the area of public transport, Latin America and the Caribbean stands out compared to other regions of the world. Chile, after China, is the country with the largest number of electric buses in circulation.
The report states that in the last 3 years, the total number of electric buses in the region has increased by 160%, reaching 5,084 units in 2023.
Charging infrastructure has also experienced significant growth, with 4,848 public stations in 2023. Brazil and Mexico lead in absolute numbers, but Jamaica, Panama, and Honduras stand out in the ratio of charging stations to vehicles in circulation.
OLADE projects significant growth for the region by 2030. In an optimistic scenario, the light electric vehicle fleet could reach 20 million units and the number of electric buses could reach 72,000 units.
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.
