Below Tesla and BYD is the Volkswagen Group as the third largest producer of plug-in vehicles, with a total of 860,000 units assembled in 2022. Of these, two-thirds are focused on electric vehicles, such as the Volkswagen ID. 4, the Audi e-tron GT and the Porsche Taycan.
The race for electrification
Little by little, vehicle manufacturers are beginning to include cars with more sustainable mobility approaches in their product lines. For example, Honda recently launched the PHEV version of the CR-V SUV, and MG Motor plans to launch its first electric vehicle later this year.
The transition is taking place gradually as the manufacturing costs of these types of vehicles remain considerably higher compared to internal combustion vehicles that use gasoline. This also explains why most of the supply is in the high-end or luxury segments, rather than the volume segments.
According to data from the Mexican Association of the Automotive Industry, in 2022, 5,631 electric vehicles and 4,575 plug-in hybrids were sold, representing only 0.9% of total vehicle sales in the country.
Automakers have found a better opportunity by including plug-in hybrid vehicles in their offerings, as the lack of charging stations is seen as a hindrance to their growth.
Despite this, EV sales saw a 393.9% year-on-year increase compared to 1,140 units sold the previous year, while plug-in hybrid vehicles rose 31%.
Tesla offers four models of electric vehicles in Mexico, with prices ranging from 1,009,900 pesos to 2,629,000 pesos.
On the other hand, BYD announced its entry into the Mexican market at the end of last year, with three models, Han EV, Tang EV and Yuan Plus EV.
This latest model is a compact SUV 4.5 meters long, with a range of 480 kilometers and acceleration from 0 to 100 kilometers in 7.3 seconds. With an entry price of 799,000 pesos, will arrive in Mexico as its most affordable model.