Mexico Electric Bus Market to Perceive Exponential Growth at CAGR 25% Driven By the u2013 Daimler, Nanjing Jiayuan EV, Iveco, Anhui Ankai Automobile, Ryobi Bus, Volvo Etc. Players

The Mexico electric bus market has registered a CAGR of 25%, during the forecast period. The electrification of the transportation sector has been critical in tackling the climate change predominant in the country. According to the IEA, in order to limit the average temperature increases to 2u00b0C u2013 it is crucial to reduce carbon emissions by around 25% from the transport sector.

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Advancements in Manufacturing Efficient Diesel Engines

More efficient diesel engines are being developed, which reduce their NO2 exhaust percentage by more than 55%. Electric Buses these days are managing a 200-mile trip on a full charge of the battery when compared to a diesel bus, which can provide 400 miles on its full tank (around 500 liters) fuel. This difference, clubbed with lesser number of charging stations is heavily pulling back the growth of Electric Bus market in Mexico.

Key Developments in the Market

March 2018: FlixBus, plans to expand its low-cost service and test all-electric bus routes, aiming to become a pioneer in a more sustainable form of intercity transit.

Major Players

u2013 Daimler, Nanjing Jiayuan EV, Iveco, Anhui Ankai Automobile, Ryobi Bus, Volvo, among others.

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Technological Trends

The major trends emerging in the market has increased emphasis on innovation and increased investments in R&D. BYD Company, is testing its 12 meters long electric bus with transport companies in Mexico, to integrate its 8 meters long model and incorporate it as an articulated unit. Therefore, this technology eliminates the process of conventional non-autonomous charging mechanism. However, high costs compounded by a sparse network of public charging infrastructure, and a lack of incentives for private distributors to expand them giving the government’s monopoly of the electricity market. Local and federal governments and the private sector should work together to create a network of incentives that ensures that the economic, environmental, and public health benefits of EVs outweigh their estimated total cost of ownership.

Mexico City tested a hybrid bus from December 2014 to January 2015, though it has not yet tested any purely electric buses. High costs are compounded by a sparse network of public charging infrastructure and a lack of incentives for private distributors to expand them given the government’s historical monopoly of the electricity market. However, there are many stations that offer services free of charge u2013 a benefit provided by automakers and businesses to encourage the electric bus adoption. In Mexico City, moreover, electric buses are exempted from the “Hoy No Circula” program, which limits the days that vehicles can be on the road.

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