Mexico’s EV Market

Introduction of Mexico’s EV landscape

• As part of GLOBAL ANGLE’s research on electric vehicle (EV) markets, this article explores Mexico’s EV landscape, which has a rapidly growing presence in Latin America.
• Mexico is rapidly becoming an EV manufacturing powerhouse, with production increasing by 72.27% in the beginning of 2025 compared to the same period the previous year. 
• The country is creating a supporting environment for EV infrastructure development, making it an attractive market for investors and businesses.
  • In 2022, the country launched the National Electric Mobility Strategy, which includes plans to expand EV adoption and infrastructure.
  • Mexico City’s government is also electrifying its public transportation fleet, increasing the need for charging infrastructure. 

Mexican EV Market Growth

Hybrids: Hybrid electric vehicles and plug-in hybrid electric vehicles

Source

• The Mexican EV market shows promising growth with both EV and hybrid models facing significant increase in sales over 2022 to 2024. 
• The trend for battery electric vehicles (BEVs) continues in 2025, as the category advances at a 28.23% CAGR from 2025-2031.

Charging Infrastructure in Mexico

Source (1), Source (2)

• Despite impressive sales figures, the lack of public charging infrastructure is a barrier to more widespread EV adoption.
• However, the Mexican government is actively addressing these challenges.
  • To stimulate installation, they implemented a 30% tax credit for public charging station installations.
  • The Comisión Federal de Electricidad, which is the country’s state-owned electric utility, also offers free installation of separate meters for home charging stations to support individual EV owners.
• As part of the National Electric Mobility Strategy, the government aims to have 25,000 public charging points in the country by 2030, with more strategic installations along major highways and urban centers, and easier access and payment.

Future Outlook

• The full transition to pure electric vehicles is still in its early stages, as hybrid vehicles dominate new technology car sales.
• However, the government’s commitment to electrification is rapidly driving infrastructure installation and EV adoption.
• Mexico’s electric car market is estimated at USD 1.29b in 2026 and projected to reach USD 4.46b in 2031.