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The initiative aims for all components of the electric vehicles to be made locally, thereby fostering the local economy. The EVs are expected to be competitively priced—ranging from $4,400 to $7,400—significantly lower than currently imported electric vehicles, which can cost upwards of $117,000. This bold move signifies Mexico's ambition to enter and disrupt the electric vehicle market.
Key Features of the New EVs
The compact electric vehicles expected to roll out by 2026 are designed to be practical and affordable, offering a safer alternative to motorcycles often used in urban areas. The administration has shared designs for two prototypes: a compact passenger vehicle and a small cargo vehicle, indicating a thoughtful approach to meet the needs of urban dwellers in Mexico.