Abstract:

EV adoption is underway in some Latin American markets for the passenger vehicle segment. With regard to EV policies, several countries in the Latin American region, including Chile, Colombia, Costa Rica, Ecuador, Mexico, and Panama have set non-legally binding targets for ZEV sales or stock, or for internal combustion engine (ICE) phase-out that apply to passenger vehicles, buses, trucks, or other vehicle segments. Opportunities for electrification, and success stories, are found in the areas of electrification of bus fleets and government fleets; manufacturing & assembly; incentives; charging infrastructure; R&D; and capacity building. Top barriers and challenges are found in insufficient fiscal incentives to reduce the cost of electric passenger cars; inadequate charging infrastructure, weak regulatory policies; lack of ZEV model availability; and lack of public awareness of ZEV technologies, incentives, and charging options.