EV Industry Growth In Mexico

Mexico, a country with significant EV market potential, has begun to see the takeoff of electric vehicles that has thus far been found primarily in Europe, China, and the United States. However, while Mexico offers a promising location for EV growth, the adoption of passenger electric vehicles in Mexico has thus far not been supported by significant government incentives.

Research has found that the two major anxieties for consumers not adopting hybrid and electrical technologies are range anxiety and cost, both of which are familiar to US consumers. This study did find some important data to support the premise that cost parity with ICE vehicles will allow the electric vehicle sector to rapidly increase deployment.found that over 93% of customers would prefer to purchase an EV than an internal combustion car if they were the same price.

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