Mexico continues to embrace electric mobility as its population of some 133 million people deal with the effects of severe air quality in its major cities.
And its capital, Mexico City with a population of 25 million in an area twice the size of New York City is where e-mobility and alternative transportation are at the intersection of change. Here, electric vehicles (EVs) from Asia and the U.S. jockey for space with the pedestrians and cyclists on bikes available for rent on nearly every corner of this high altitude, tree lined and chaotic concrete jungle.
The reasons behind Mexico's e-mobility and alternative transport boom are economic and varied, but reduced CO2 production is a welcome consequence. Mexico starting its transition from combustion engine vehicles to EVs will incentivize domestic production of EVs and hybrids. In turn spurring employment and economic opportunities. EV production in Mexico could surpass 200,000 vehicles in 2023 after rising to almost 158,000 from 2020 through 2022, and Mexico's government has an eye on that EV figure reaching half a million by 2030.
But Mexico's e-mobility push won't be easy peasy. Like other regions of the world undergoing aspects of an EV boom, high vehicle prices and a lack of charging infrastructure are some of the top complaints from existing and potential customers. As such, the ownership trajectory to EVs will likely first have to pass through hybrids for many in Mexico.
Still, Mexico's e-mobility push is impressive. Even as pundits argue its development is 10 years or more behind the U.S. As Mexico starts to build out its EV infrastructure—following North America and Europe's lead—customers may come, but only if the price is right.
2023-07-14 - Hydrogen Solutions Inc., or Next Hydrogen, has accepted Mike Pyle’s resignation from its board of directors.
2023-08-30 - James Henderson’s new role at Vitesse Energy follows financial leadership roles at Williston Basin E&Ps including Whiting Petroleum Corp. and Kodiak Oil & Gas.
2023-07-20 - Jeremy Knop, executive vice president of corporate development for Appalachian gas producer EQT, was tapped to be the company’s next CFO.
2023-08-29 - Peregrine Energy Solutions has signed an agreement with the Minneapolis-based investment manager AB CarVal to raise more than $700 million of credit, equity and debt to fund Peregrine’s pipeline of over 7 gigawatts of projects, including standalone battery, solar and wind technologies.
2023-08-16 - Empower Energies has appointed Christopher Lee as its CFO.