Mexico Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn.
Mexico Electric Vehicle Market
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Mexico Electric Vehicle Market Overview:
Many countries are now banning new vehicles which run on fossil fuels like gasoline, diesel or liquefied petroleum gas. Germany, India, Ireland, Israel, & the Netherlands have announced strategies to ban fossil fuel cars starting in 2030; Britain, France, Taiwan & California will ban them in 2040; & Norway in 2025. Paris, Rome, Madrid, Athens & Mexico City will ban diesel vehicles in 2025. Mexico’s climate legislation targets emissions cuts of 50 percent by 2050 & 35percent renewable energy by 2024.
Mexico City’s overall objective is to reduce emissions by up to 30 percent (8 to 10 million tonnes of CO2) from business as usual between 2014 & 2020. In the Urban area of Mexico City, 29 percent of all daily travel is by private vehicle & 60.6 percent by low capacity public transport concessions only 8 percent is carried out on mass public transport systems, & 2.4 percent by bicycle & motorcycle.
Thanks to the energetic participation of governments & companies to promote new technologies for the environment, Mexico now has numerous incentives, promotion mechanisms & user benefits for EVs. These developments offer new opportunities in the EV industry in Mexico. The country’s electricity reform & momentum focused on addressing climate-change signifies a chance to set the platform for the long-term adoption of EVs. Ultimately, EVs are part of a larger ecosystem of sustainable transport & cleaner energy generation, which is also called for in Mexico’s climate change law. Mexico goals to provide 35 percent of the nation’s electricity generation mix by clean energy sources by 2014, 40 percent by 2035, and 50 percent by 2050. Therefore, Mexico’s electric vehicle market scenarios are promising.
Thanks to the energetic participation of governments & companies to encourage new technologies for the environment in Mexico there are numerous incentives, promotion mechanisms & preferential electric taxes for the use of EVs. In the first half of 2017 there was an incremental growth of 78.1 percent in purchase with respect to the first semester of 2016. During June 2017 the sale of hybrid & Evs was 791 units, of which 44 percent where in Mexico City. Mexico City’s government objectives to improve its public transport systems & incorporate new mobility policies.
Electric Vehicles Market in Mexico:
• Over 500 electric vehicles & 15,000 hybrid cars in Mexico
• EV charging stations: over 900
• Main EV car brands: Nissan Leaf, Renault Twizy, BMW i3, Tesla S, X, M3, Chevrolet Bolt EV, and Zacua M2 (Mexican)
• Most important EV Stakeholders in the Mexican Market: OEMs: Nissan, Tesla, Renault, BMW, GM, Porsche, Mercedes-Benz, Fiat, Ford and government bodies, both national and local.
• Charge Point Producers: ABB, Bosch, GE, Schneider Electric, Siemens, Tesla
• Utility: CFE (Comisión Federal de Electricidad)
• Entrepreneurs: Carrot (car sharing), Econduce (moped sharing)
• Cities involved in the market: Mexico City, Cuernavaca, Nuevo Leon, Guadalajara, Aguascalientes, Leon, Tampico.
• Mexico is the 3rd largest market for Toyota Prius
Electric Vehicles Business Opportunities:
BMW & Nissan are the two key car brands which try to encourage Electric vehicle in the Mexican market. As players in this new market they both cooperate & compete with their projects. BMW seems to be somewhat more positive towards open standards like the Open Charge Point Protocol than Nissan. BMW has invested in charging points, but they much rather want a Charge Point Operator or Service Provider to enter the electric vehicle market. One of objectives of the Netherlands Embassy in Mexico is to set up a triangular cooperation between NL-US-MX. Coast2Coast E-Mobility & East Coast Electrics are considered to be significant potential partners in this cooperation. The Embassy is promoting business opportunities in the area of supportable mobility in Mexico, through different initiatives.
The objective of the report is to present a comprehensive analysis of the Mexico Electric Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Mexico Electric Vehicle Market dynamics, structure by analyzing the market segments and project the Mexico Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Mexico Electric Vehicle Market make the report investor’s guide.
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Mexico Electric Vehicle Market, By Type
Mexico Electric Vehicle Market, By Vehicle Type
• Two Wheeler
• Passenger Car
• Commercial Vehicle
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.