Battery electric vehicle revenue in Latin America is expected to reach 2.76 billion U.S. dollars in 2028, up from just over one billion U.S. dollars in 2022. In contrast, plug-in hybrid electric vehicle revenue is forecast to have a slower growth.
Forecast electric vehicle revenue in Latin America between 2016 and 2028, by propulsion type
(in million U.S. dollars)
Characteristic
Battery-electric vehicles
Plug-in hybrid electric vehicles
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based on a September 2023 modelling which takes into account the market impact of Russia's war on Ukraine.
Supplementary notes
The Electric Vehicles segment includes information about electric vehicles in countries where, according to our sources, a public electric vehicle charging infrastructure is already available. In this context, “public” means that people have unrestricted access to the charging infrastructure. A vehicle can be defined as electric if it is self-contained with a battery or classified as a plug-in hybrid. All key figures shown represent the sales of new cars, and their basic configuration in the respective year. The figures do not include the sale of used vehicles nor adapted equipment for the new cars sold. The prices and revenues shown are accordingly based on the basic models.
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Statista. (September 1, 2023). Forecast electric vehicle revenue in Latin America between 2016 and 2028, by propulsion type (in million U.S. dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1428885/latin-america-ev-revenue-forecast-by-propulsion-type/
Statista. "Forecast electric vehicle revenue in Latin America between 2016 and 2028, by propulsion type (in million U.S. dollars)." Chart. September 1, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1428885/latin-america-ev-revenue-forecast-by-propulsion-type/
Statista. (2023). Forecast electric vehicle revenue in Latin America between 2016 and 2028, by propulsion type (in million U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1428885/latin-america-ev-revenue-forecast-by-propulsion-type/
Statista. "Forecast Electric Vehicle Revenue in Latin America between 2016 and 2028, by Propulsion Type (in Million U.S. Dollars)." Statista, Statista Inc., 1 Sep 2023, https://www.statista.com/statistics/1428885/latin-america-ev-revenue-forecast-by-propulsion-type/
Statista, Forecast electric vehicle revenue in Latin America between 2016 and 2028, by propulsion type (in million U.S. dollars) Statista, https://www.statista.com/statistics/1428885/latin-america-ev-revenue-forecast-by-propulsion-type/ (last visited July 22, 2024)
Forecast electric vehicle revenue in Latin America between 2016 and 2028, by propulsion type (in million U.S. dollars) [Graph], Statista, September 1, 2023. [Online]. Available: https://www.statista.com/statistics/1428885/latin-america-ev-revenue-forecast-by-propulsion-type/