Latin America Electric Bus Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

In past in comparison to other developing countries such as China and India, Latin American countries have a comparatively less strategic interest in electric buses but from the past few years, governments are actively laying out their plan for the adoption of electric buses in the future.

Local governments have made several announcements to electrify their public transport. For instance, Chile is leading from the front to reduce emissions and air pollution with the adoption of electric buses. The country is scheduled to host the UN Climate Change Conference COP25 in December 2019. Chile has also announced that by 2040 it will achieve total electrification of its public transportation fleets. Already Chile has one of the largest electric bus fleets in Latin America as it added 200 new e-buses in Santiago, which is one of the most polluted cities in Latin America. Previously Santiago has announced its plan to make 80% of its buses electric by 2022, and now it is expected to add 500 more electric buses by 2020.

Similarly, Colombia in its National Electro Mobility Strategy planned to reach 600,000 electric vehicles by 2030, and Ecuador has made it clear with the announcement that all new vehicles which will be added into the public transport fleet will be electric from 2025. According to the Costa Rica national decarbonization plan, it is planning to have an all-electric fleet of buses and taxis by 2050. Whereas many other countries are providing incentives for electric vehicle customers, like Peru lifted tax from electric vehicles in 2018.