Global Mexico Electric Vehicle Market

  • 4100.00 Dollar US$
  • Published date: May 7, 2021
    • Pune, Pune, Maharashtra, India
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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.  
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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.
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