Latin America Electric Vehicle market is estimated to grow at a CAGR of more than 19.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases. The growing environmental concerns along with cohesive government initiatives are some other aspects to fuel the market growth in the region.
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Moreover, several Latin American countries have created programs to promote the construction of charging infrastructures, such as Costa Rica, Colombia, Mexico, Colombia, and Uruguay. The growing public-private partnerships including Argentina (between Edesur and Renault), Chile (between Petrobras and Nissan) to build new construction sites, public buildings and workplaces to implement charging points is further fueling the market growth in Latin America. However, the high cost of batteries and the low-range availability of electric vehicles are the key factors to restrain the market growth in the region.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Latin America Electric Vehicle Market by Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
Latin America Electric Vehicle Market by Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
Latin America Electric Vehicle Market by Battery Type
- NiMH
- Li-Ion
- Others
Company Profiles
- Bayerische Motoren Werke AG
- Fiat Chrysler Automobiles N.V.
- Toyota Motor Corp.
- Zhejiang Geely Holding Group,
- General Motors Co.
- BYD Company, Ltd.
- Daimler AG
- Ford Motor Co.
- Groupe PSA,
- Honda Motor Co.
- Hyundai Motor Co.
- Mitsubishi Motors Corp.
- Nissan Motor Co.
- Tesla, Inc.
- Volkswagen AG
The Report Covers
- Comprehensive research methodology of the Latin America Electric Vehicle market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Latin America Electric Vehicle market.
- Insights about market determinants which are stimulating the Latin America Electric Vehicle market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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