SOUTH AMERICA ELECTRIC VEHICLES MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for electric vehicles in South America is anticipated to grow at a 6.98% CAGR. Sales of electric passenger cars have increased dramatically in recent years as a result of the rise in electric mobility. The largest segment by vehicle type is commercial vehicles. People are switching to greener vehicles as a result of the ongoing rise in fuel prices.

The transportation industry in South America has a significant potential for e-mobility, and government efforts in the form of rebates and subsidies are encouraging electric buses there. The fastest-growing Segment by Vehicle Type is Light Commercial Vans.

The largest segment by fuel type is BEV, which has been produced by numerous OEMs all across South America as a result of rising petrol and diesel prices. 

Major Players: Audi AG, Hyundai Motor Company, Nissan Motor Company Ltd, Toyota Motor Co. and Volkswagen AG 

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