These Countries Embrace E.V.s to Avoid Oil Price Shocks
The New York Times • • business
Key Points:
- Costa Rica leads the Western Hemisphere in electric vehicle (EV) purchases per capita, with many EVs, primarily from Chinese manufacturers like Geely and BYD, seen at popular tourist spots such as the Croc Skywalk near San José.
- The country exemplifies the growing popularity of electric vehicles in less affluent nations outside the major U.S., European, and Chinese auto markets, a trend accelerated by rising fuel costs due to the conflict in Iran.
- Electric vehicle sales in Latin America, Africa, and much of Asia surged 79% in March year-over-year, with a 48% increase projected for all of 2025, according to Benchmark Mineral Intelligence.
- In the first quarter of the year, EVs made up 18% of new car sales in Costa Rica, second only to Uruguay in Latin America, and this rate is three times higher than in the United States.
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