The transition towards more sustainable mobility is not only a technological issue, but also a strategic commitment involving key investments, which could boost the automotive industry in Mexico in a positive context of foreign investment.

Within the framework of LATAM Mobility & Net Zero Mexico 2024 , in the panel Technological Advances in the automotive sector towards Sustainable Mobility , moderated by Kathy Ardila, business leader of Invest in Latam , leaders of the automotive industry shared their visions on the future of electric mobility and the energy transition in Mexico and Latin America.

In this regard, Anel Hernández, director of operations at Yutong , highlighted that the country is leading initiatives such as the implementation of electric trolleybuses , which demonstrates its commitment to green mobility and highlighted how foreign investment has been key in the growth of electromobility in Mexico.

“We are seeing a positive impact on foreign investment in Mexico, with more than 50 brands working in the automotive sector,” he said.

Edgar Suárez, country manager of Zeekr Mexico , stressed that the country ranks seventh worldwide in automotive production . However, he warned that to maintain that competitiveness, it is crucial that it advances in the infrastructure necessary to support the mass adoption of electric vehicles.

For his part, Óscar Hernández, Product Director of BYD México , highlighted the progress towards the electrification of vehicles as a key trend in the industry , which is why he pointed out the importance of education for both users and new generations of engineers , who must understand the benefits and characteristics of electric cars and how this technology represents a sustainable evolution in the automotive sector.

“It is essential that universities and factories understand this new technology, so as not to lose competitiveness in the global market,” added Edgar Suárez, highlighting the need for collaboration between universities, government and industry to educate the professionals of the future and ensure a continuous supply of spare parts and new technologies.

The role of financing in the energy transition

Marisol Rodríguez, automotive sales director of Grupo Financiero Banorte , highlighted the fundamental role of financing in the adoption of hybrid and electric vehicles .

He noted that Mexico leads sales of green cars in Latin America, with an annual growth of 70% , however, subsidies and tax incentives play a crucial role in making electric vehicles more accessible.

“We offer differentiated rates for green cars, much more competitive than for gasoline cars, but it depends on alliances with brands and subsidies that make prices more accessible,” explained Rodríguez.

He added that collaboration between financial institutions and automotive brands is essential to offer attractive financing options that allow consumers to access more sustainable vehicles without this representing a prohibitive expense.

At the panel, the speakers agreed that there are still challenges in the sector, especially in terms of charging infrastructure and the lack of general knowledge about the benefits of these cars. However, sustainable mobility is an achievable goal if we continue to invest in technological innovation, education and strategic alliances between the private, public and academic sectors.

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El cargo Automotive technological innovations: towards sustainable mobility in Latin America apareció primero en T21.