The financial sector is a key player in the transition to electromobility and cleaner transportation, thanks to the diverse products banks offer to finance sustainable projects, experts agreed at the second edition of Mexico EV Day , organized by the Mexican Association for the Promotion of Electric Vehicles (AMIVE) .

The panel on Investment, Incentives, and Facilitators of Electric Mobility addressed the challenges and opportunities for accelerating the electrification of transportation in Mexico .

Mariuz Calvet, Chief Sustainability Officer at  Santander Mexico , and Siddharta Flores, Deputy Director of Projects Financed by International Financial Organizations at Nacional Financiera (Nafin) , highlighted the financial facilities being promoted to encourage the adoption of electric vehicles , both in public and private transportation.

In this regard, they highlighted the green credit lines for urban electric fleets , tax incentives and subsidies for the acquisition of electric and hybrid vehicles, mixed financing schemes that combine public and private resources for the development of charging infrastructure, as well as support for state and municipal projects aimed at promoting sustainable mobility .

For Siddharta Flores, the success of electrification depends on two pillars: tax incentives and access to financing . Currently, there are benefits such as a tax reduction of up to 150,000 pesos for electric vehicles and exemption from ownership and inspection fees in several states across the country.

In his presentation, he emphasized the importance of collaborative work between the private and public sectors to structure, from the banking perspective, the financial products necessary for the value chain.

“I think we should rather make a joint effort. We don’t have to look at what you’re lacking or what I have in excess so I can tackle that area. We must make a joint effort because otherwise, we’ll end up with pilot programs or isolated efforts that ultimately don’t develop into a potential industry,” he declared.

Meanwhile, Mariuz Calvet said that commercial banking has recognized that 99% of financial institutions’ carbon footprint comes from their loan portfolio. Therefore, banks such as Santander and BBVA have adopted decarbonization strategies aligned with the National Sustainable Taxonomy and the Paris Agreement , which prioritize the financing of activities that contribute to a low-carbon economy.

“It’s good business to have an electric vehicle. It saves fuel, reduces maintenance and operating costs , and, of course, it contributes not only to Mexico’s Sustainable Development Plan and our goals, but also to the clean air we breathe every day. We have a great opportunity here,” he concluded.

For her part, Andrea Hurtado, general director of Climate Action Policies at the Ministry of Environment and Natural Resources (Semarnat) , stated that the electrification of transport is one of the most relevant measures to decarbonize the sector, which represents 25% of national carbon dioxide (CO₂) emissions . However, she emphasized that simply changing the type of vehicle is not enough.

“We need to rethink the transportation model, redensify cities, change mobility habits, and strengthen the charging and final disposal infrastructure for batteries,” he stressed.

According to data cited by Hurtado, Mexico will emit 788 million tons of CO₂ in 2024; more than 50% of transportation comes from individual vehicles. Between 2016 and April 2025, 426,942 electric, hybrid, and plug-in hybrid vehicles were sold in the country.

Comment and follow us on X:  @miroslavacs  /  @GrupoT21

El cargo Financial institutions promote the electrification of transport apareció primero en T21.

Electromobility in Mexico is not advancing at the desired pace; it faces significant challenges. Although the country has made progress this year in energy regulations and promotion, charging infrastructure remains an unresolved issue.

Mexico has 315 public charging points , which compared to the 62,493 in the Netherlands, 24,407 in Germany or the 18,308 in France, is still very limited in infrastructure, which is also concentrated in large cities, describes Yolanda Villegas, strategic advisor of the Mexican Association for the Promotion of Electric Vehicles (AMIVE).

This lack of coverage creates uncertainty among consumers and hinders the widespread adoption of electric vehicles.

Furthermore, the key question arises: what should come first, chargers or electric vehicles? Without reliable infrastructure, electromobility, especially in freight transport, will not advance, but without sufficient demand for vehicles, companies do not invest in charging stations.

One of the main obstacles to the adoption of electric vehicles in transportation is the lack of adequate charging infrastructure, highlights Javier Nova, segment leader at Hitachi Energy .

The lack of infrastructure becomes even more critical in long-distance transportation. Nova exemplifies that, on 900-kilometer journeys, such as those made by agricultural companies from Jalisco to southeastern Mexico, the lack of reliable charging stations makes electrification unfeasible.

El cargo Uphill electromobility apareció primero en T21.

The director of the Mexican Association for the Promotion of Electric Vehicles (AMIVE), Diana Ávalos, said that electrification represents a great opportunity for the country, partly due to its enormous commercial fleet, which ranks fifth worldwide , however, she highlighted the need to have adequate infrastructure , since the lack of charging stations is one of the biggest obstacles to wider adoption.

In this regard, Ávalos highlighted that the shift towards electric mobility would help reduce CO₂ emissions, improve air quality in cities and generate significant savings for companies that electrify their fleets.

However, he warned that this process will require strategic planning for the installation of charging stations , because currently the Mexican electrical system is not prepared to meet this demand without major adjustments.

“We cannot simply place charging stations wherever we want; the national electrical system requires investments and improvements in transmission and distribution,” explained Ávalos during the conference Opportunities for the electrification of commercial fleets , within the framework of the Transport Logistics Forum, held in León, Guanajuato.

He also said that electrification of fleets could be particularly beneficial for last-mile transport, given that these vehicles travel long distances and have high operating costs.

He mentioned as an example that companies such as DHL and Grupo Modelo have already begun to electrify their delivery fleets, observing a positive impact on their operating costs . However, Ávalos stressed that these advances are limited by the lack of high-power chargers necessary for heavy-duty vehicles.

“It is essential that the government and companies collaborate to establish shared freight yards, especially in strategic transportation corridors,” said Ávalos.

Another challenge facing Mexico is the limited capacity to generate and distribute electricity.

“In densely populated cities, the electrical system would not be able to support the volume of chargers required in homes and businesses, so it is necessary to consider alternatives such as shared charging centers,” he explained.

In this context, he pointed out the example of Hermosillo, where the electrification of the patrol fleet was complemented with solar panels in the loading yards, which allows for a reduction in costs in the long term.

Ávalos also highlighted the United States’ interest in the electrification of its cargo vehicles, driven by tax incentives and subsidy programs. However, he warned about the differences between the two countries in terms of infrastructure and resources.

The director of AMIVE highlighted the need to view the electrification of fleets as a business opportunity and as a catalyst for technological development in Mexico.

In his view, the country has the potential to become a producer and developer of electric vehicles and not just a consumer market.

“Mexico has a robust automotive industry and skilled people. We must focus not only on assembling, but on developing our own technology,” said Ávalos.

Comment and follow us on X: @karinaquintero  / @GrupoT21

El cargo Fleet electrification: an opportunity and challenge for Mexico apareció primero en T21.

According to estimates by the Inter-American Development Bank (IDB) in 2019, transportation accounted for 9% of greenhouse gas emissions in Latin America. Of these, 44% were generated by freight transport, which in turn was subdivided into road transport, which accounted for 35%, followed by maritime transport with 6%, while air transport accounted for 3% and rail contributed 1 percent.

Given this scenario and with the aim of formulating strategies to prepare fleets for the future and make the leap towards environmentally friendly vehicles, Fleet Latam Summit 2024 was held, where Angélica Vesga, Director of Public Affairs and Communication at the World Resources Institute (WRI) , explained that in the face of climatic phenomena, whether due to floods or prolonged droughts and their impact not only at a social level, but also at a productive and economic level, it is necessary to have financial and governance systems that promote more sustainable mobility.

He explained that in the Latin American region it is a priority to align investments and policies, both in infrastructure for charging and in city design. He pointed out that it is essential to distribute public resources in transportation, as well as in energy-efficient constructions and new energies.

“While transport is an important part of the problem, it is also part of the solution. It is urgent to break the cycle of inaction, due to the lack of incentives and public policies. It is necessary for the various sectors to commit themselves: private initiative, authorities, public energy generating companies and social organizations,” said Vesga.

For her part, Mónica Mata, Program Manager for Latin America at The Climate Group , indicated that society must pressure governments to implement public policy instruments to adopt more sustainable mobility , and assured that it is necessary to create working groups to achieve the zero emissions goals in Latin America.

In turn, Francisco Cabeza, president of the Mexican Association for the Promotion of Electric Vehicles (AMIVE) , explained that it is difficult to talk about long-term projects in Latin America due to changes in government and the lack of continuity in agendas for the transition to cleaner mobility.

Despite this, Mexico and Brazil are leading the electrification of fleets, but these are mostly concentrated in private fleets. Thus, the challenge is to generate dialogue with all the actors involved in the energy transition of transport.

Cabeza explained that it is necessary to outline economically viable projects and to specify where the adoption of this type of technology makes sense.

Comment and follow us on X:  @Liznomas / @GrupoT21

El cargo Joint Actions Urgently Needed to Develop the Vehicle Fleets of the Future apareció primero en T21.