Competitive Factors Influencing the Growth of Latin American Hybrid and Electric Vehicles
Transformational growth of electric vehicles due to changing regulations, OEM strategies and offers, increasing charging infrastructure, and varying economic situation of Latin America
Research Overview
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.
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