Introduction to the Electric Vehicle Landscape in Mexico
In Mexico, 51% of electric vehicle (EV) owners acquired their electric car or hybrid charged through some form of financing, highlighting a pressing need for more diverse financial sources to promote electric mobility in the country, according to the Electro Movilidad Asociación (EMA).
Current Financing Situation for Electric Vehicles
According to the Mexican Association of Automobile Distributors, 60% of all vehicle sales in the country are made through self-financing. Achieving this level for electric vehicles would be ideal, as EVs represent a significant investment similar to other forms of transportation.
EMA’s National Survey on Electric Vehicle Users
The EMA conducted the first national survey of electric vehicle users in Mexico, interviewing 1,232 EV owners (1% of the total). The survey’s findings will help advance towards established goals in electric mobility.
EMA’s Goals and Predictions
The EMA aims to reach 50% electric vehicle sales by 2030 and 100% by 2035. Although ambitious, considering the current 5% market share in 2024, this goal is achievable if all sector actors align on environmental protection and economic rationality, as seen in developing countries like Costa Rica, which reached 20% EV adoption last year.
The EMA estimates around 130,000 new electric cars for 2025, up from 99,000 in the previous year. Currently, there are 94 distinct models available in the Mexican market, making the prediction feasible despite geopolitical challenges and slow economic growth.
Survey Findings
- Recent Adoption: 88% of respondents purchased their electric or hybrid vehicle within the last year, indicating a nascent technology with significant growth potential.
- High Satisfaction: 93% of current electric vehicle owners in Mexico are completely satisfied with their purchase, a high satisfaction rate.
- Future Intentions: 55% of the surveyed group stated they would not return to traditional vehicles if changing cars, preferring another electric vehicle instead.
Challenges Facing Electric Vehicle Adoption
The survey also revealed concerns hindering further electric vehicle adoption: insufficient charging stations and limited range (around 500 km for advanced models) causing anxiety about recharging and potential stranding without access to a suitable charging station.
