Latin America lags far behind global NEV sales, despite being the world's fifth-biggest auto market. In Brazil, Mexico, and Chile, NEVs made up just 2.5 percent of total car sales last year. The global average is 14 percent, and in China it is 25 percent.
But governments in countries including Brazil and Argentina are offering NEV stimulus polices, in areas such as purchase tax, ownership tax and tolls, as well as offering energy efficiency credits for car firms. In Mexico, electric vehicles are totally exempt from tariffs.
The government of Chile has announced that sales of fuel cars will be banned by 2035. Colombia, Puerto Rico, and Panama have also announced various targets for new energy products, said Dai Qiang, director of Great Wall Motor's Brazilian strategy department.