Latin American Hybrid and Electric Vehicles Growth Opportunities

Latin American Hybrid and Electric Vehicles Growth Opportunities

  • February 2022 •
  • 124 pages •
  • Report ID: 6244771 •
  • Format: PDF
This research service analyzes and provides growth forecasts for 2030 for the LATAM hybrid and electric vehicles market (PHEVs, HEVs, and BEVs). By 2030, the commercialization of approximately 1 million electrified vehicles is expected in LATAM, and the total electrified vehicles in operation will be about 5.4 million. Analyzing 2030 sales by technology, PHEVs will reach 405.2 thousand units, HEVs will reach 488.9 thousand units, and BEVs will reach 123.7 thousand units. The study analyzes on the electrified market by technology, sales, parc, infrastructure, and regulations. The electrified vehicle market in Latin America is nascent in charging infrastructure, vehicle offerings, sales, and regulations. The market has experienced electrification initiatives in several segments, but the leadership in sales continues to be in light vehicles, which are part of the scope of this study.Out of the several initiatives taken for charging infrastructure, governments are improving very few of them. Many companies are trying to understand what the recovery will look like after the worst moment of the COVID-19 pandemic to define new strategies and investments. The countries of Latin America have very different regulations and market characteristics, so each country is at a different point in implementing technologies for mobility electrification. Some are focusing only on importing vehicles, from basic to luxury, while others are already seeing the opportunity for producing electric and hybrid vehicles, batteries, new technologies, alternative fuels, and increased charging infrastructure.