In the first half of 2024, there were 249,079 light electric vehicles and over 5,000 electric buses in circulation in Latin America and the Caribbean.
The growth of electromobility in the region would require an investment of up to USD 10 billion in renewable energy by 2030.
The Secretary of the Latin American Energy Organization (OLADE), Andrés Rebolledo, today announced the launch of a new publication, OLADE Technical Notes, which will be presented monthly with topics that are part of the debates and agenda of the energy sector in Latin America, the Caribbean, and the world.
“In Technical Note No. 01, which includes the Latin American and Caribbean Electric Mobility Monitor (LAC), a new tool is presented that will allow us to track the development of electromobility in the region, the progress, and challenges in further expanding this technology in the region,” Rebolledo said.
The LAC Electric Mobility Monitor provides a general overview of the evolution and current state of the electrified light vehicle fleet (EV), including battery electric vehicles (BEV) and plug-in hybrid vehicles (PHEV), as well as electric buses and charging infrastructure. It also analyzes the current regulations in the countries of the region aimed at promoting the development of electric mobility.
Electromobility is advancing rapidly in LAC. Some of the key findings are as follows:
- The electrified light vehicle fleet has grown more than 14 times in the last 4 years.
- The number of electric vehicles per capita is 3.8 units per 10,000 inhabitants. In China, it’s 241, Europe 183, and the U.S. 72.
- In the last 3 years, the total electric bus fleet in the region has increased by 160%.
- In 2023, LAC had 5,084 electric buses, which is 7.7 electric buses per million inhabitants, surpassing Europe (3) and the U.S. (0.9), but far below China (299).
- In 2023, there were 4,848 public charging stations in Latin America and the Caribbean. This equates to 3.3 charging stations per 100 electric vehicles, placing it above Europe (1.3) and the U.S. (2.8), but below China (5.1).
It is interesting to note that most LAC countries have implemented or are in the process of implementing regulatory and public policy instruments to encourage the transition of the transportation sector toward electromobility.
Rebolledo also stated that “to expand electric mobility in the region, a key issue is to advance the harmonization of regulatory frameworks in LAC and the implementation of international green corridors with sufficient and standardized charging infrastructure, including their associated services.”
Finally, he announced that the next Technical Note No. 02, scheduled for October 2024, will address the state of electric integration in South America, its progress, and outstanding matters.
Video of the event: https://www.youtube.com/live/YkW1n1QYvTA
