Chile Electric Vehicle Market Research Report, 2030

Chile’s electric vehicle (EV) market has undergone considerable transformation in recent years, propelled by a mix of government initiatives, environmental consciousness, and the worldwide transition toward sustainable transportation. As one of the foremost economies in Latin America, Chile has experienced swift growth in the uptake of electric vehicles, establishing itself as a regional frontrunner in EV integration. The nation’s experience with electric vehicles commenced in the early 2010s, but it truly accelerated around 2015, owing to the launch of government incentives and the creation of policies designed to lessen carbon emissions and promote renewable energy. In 2017, the Chilean government unveiled a strategy to curtail emissions in the transportation sector, aiming for 40% of new vehicle sales to be electric by 2050. This objective was supported by numerous initiatives, encompassing subsidies, tax breaks, and the implementation of charging infrastructure throughout major cities and highways. Chile's expanding EV market is bolstered by the availability of clean energy, with a significant portion of the country’s electricity generated from renewable sources, especially solar and wind. This makes electric vehicles an even more appealing choice in Chile, as they correspond with the nation’s larger environmental aspirations. The market initially concentrated on electric buses, with various cities, including Santiago, rolling out electric bus fleets to mitigate urban air pollution. By the early 2020s, an increasing number of electric passenger vehicles, featuring models from international brands like Tesla and local manufacturers, began entering the market. The government furthermore enacted charging infrastructure initiatives to facilitate the rising number of electric vehicles. In addition, Chile’s electric vehicle market has exhibited rapid expansion, supported by favourable policies, a focus on renewable energy, and heightened consumer interest in environmentally friendly transportation. According to the research report, "Chile electric vehicle Market Research Report, 2030," published by Actual Market Research, the Chile electric vehicle Market was valued at more than USD 2.71 Billion in 2024. One of the key opportunities in the Chilean EV market is the ongoing development of electric public transportation. Chile has already progressed with electric buses, particularly in Santiago, where the government has launched a comprehensive fleet of electric buses to alleviate air pollution and reduce greenhouse gas emissions. The market for electric passenger vehicles is also broadening, with rising consumer interest in eco-friendly options. Additionally, Chile’s developing EV infrastructure, featuring charging stations, presents an opportunity for private companies to invest in charging networks. The COVID-19 pandemic initially hampered global vehicle sales, including in Chile. Nonetheless, the pandemic also resulted in a heightened emphasis on sustainability and cleaner air in urban environments. With fewer vehicles on the streets during lockdowns, air quality improved, generating public interest in eco-friendly alternatives. As Chile recuperates from the economic impact brought on by the pandemic, the government has renewed its emphasis on electric mobility, providing incentives and assistance to foster EV adoption. Chile’s path with electric vehicles commenced in the early 2010s. By 2017, governmental policies and incentives aimed at reducing emissions gained momentum, accompanied by the introduction of electric buses and the gradual emergence of electric passenger vehicles. The Chilean government has played a pivotal role in endorsing electric vehicles through subsidies, tax incentives, and investments in charging infrastructure. Moreover, manufacturers have increasingly concentrated on highlighting the environmental and economic advantages of EVs to consumers, stressing lower operational expenses and diminished carbon footprints. Marketing efforts also underscore the nation’s transition to renewable energy, rendering EVs an even more appealing choice.

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Chile's electric vehicle (EV) market displays a variety of options and is progressing, featuring different propulsion technologies that meet a range of consumer needs and preferences. The market is organized by the kind of propulsion system employed in the vehicles. These comprise Battery Electric Vehicles (BEV), Fuel Cell Electric Vehicles (FCEV), Plug-in Hybrid Electric Vehicles (PHEV), and Hybrid Electric Vehicles (HEV). Each type of propulsion provides unique benefits concerning environmental effects, driving range, and infrastructure demands. Battery Electric Vehicles (BEVs) are the prevalent form of electric vehicle in Chile and around the world. BEVs operate solely on electricity that is stored in batteries, lacking an internal combustion engine. This renders them completely emissions-free when in use, aligning with Chile’s aims to decrease carbon emissions and encourage clean energy. As the nation increasingly harnesses renewable energy sources like solar and wind, BEVs become particularly appealing since they can utilize green electricity for charging. Chile’s expanding charging infrastructure bolsters the proliferation of BEVs, rendering them an attractive option for consumers. Fuel Cell Electric Vehicles (FCEVs) are less prevalent but are attracting interest in Chile due to their quick refuelling abilities and extended driving distances. FCEVs generate electricity through hydrogen fuel cells, which power an electric motor. The sole emission produced by FCEVs is water vapor, hence they are another zero-emission alternative. Nevertheless, the infrastructure for hydrogen fueling stations is still limited in Chile, which may impede the broad uptake of FCEVs. Nonetheless, the government is investigating the development of hydrogen as a clean energy source, and Chile's wealth of renewable energy could position hydrogen as a feasible option in the future. Plug-in Hybrid Electric Vehicles (PHEVs) integrate an internal combustion engine with an electric motor and a rechargeable battery. PHEVs can be powered from an electrical outlet and can operate on electricity for short distances, while the gasoline engine activates for longer journeys. The electric vehicle (EV) market in Chile is experiencing rapid growth, driven by both governmental policies and heightened consumer interest in sustainable transportation. The market is divided by vehicle type, with electric passenger vehicles, commercial vehicles, and two-wheelers playing crucial roles in the transition toward greener mobility. Each segment exhibits its own unique attributes and meets various consumer demands. Electric passenger vehicles represent the most substantial segment in Chile's EV market. This category encompasses sedans, hatchbacks, and SUVs, providing an environmentally friendly alternative to conventional gasoline vehicles. The expanding middle class and urban expansion in Chile have resulted in a rising demand for electric passenger vehicles, particularly in urban areas like Santiago, where air pollution poses a problem. The government has implemented incentives such as tax reductions and subsidies to enhance the affordability of these vehicles. Moreover, the availability of EV models from global brands like Tesla, Nissan, and Chevrolet, along with the nation’s developing charging infrastructure, has made electric cars a more appealing option for consumers in search of cleaner, more sustainable transportation solutions. Electric commercial vehicles are emerging as a vital component of Chile's EV ecosystem, especially for enterprises aiming to cut costs and emissions. This category includes electric trucks, delivery vans, and buses, primarily utilized in urban logistics and public transport. Santiago, the capital, has already rolled out a fleet of electric buses as part of its initiative to mitigate air pollution and greenhouse gas emissions. The government has also been advocating for the use of electric trucks for freight transportation, particularly in congested urban areas. Commercial EVs provide businesses with the dual advantage of reducing operating expenses and enhancing sustainability, making them an attractive option as emissions regulations become stricter. Electric two-wheelers, including e-bikes and electric scooters, are increasingly popular in Chile’s metropolitan areas. Fast charging, commonly referred to as DC fast charging or Level 3 charging, is the fastest method to recharge an electric vehicle. In Chile, fast charging stations are increasingly appearing along primary highways and in urban locations, meeting the demand for quick recharging during lengthy journeys or in areas with scant charging facilities. Fast chargers can deliver up to 80% charge in about 30 minutes, making them suitable for drivers needing to swiftly recharge their EVs while traveling. Both the government and private entities are significantly investing in expanding fast charging networks, emphasizing key routes that link major cities like Santiago, Valparaiso, and Concepcion. Fast charging also alleviates range anxiety, which is a frequent obstacle to EV adoption. Leading EV models such as the Tesla Model S and Chevrolet Bolt are designed to work with fast charging networks, offering greater flexibility for long-distance travel. Fast charging stations generally utilize high-powered DC chargers and are located at strategic sites like highways, shopping centres, and commercial areas. Normal charging, also known as Level 1 and Level 2 charging, is the slower, more prevalent type of charging. Level 1 chargers operate with a standard 120V outlet, typically found in homes, but they are considerably slower and may require up to 12 hours to completely charge an EV. Level 2 chargers’ function with a 240V outlet and are typically located in public charging stations, workplaces, and residences. These chargers allow for quicker charging compared to Level 1, usually taking about 4-6 hours to fully charge a vehicle. In Chile, normal charging stations are vital for daily use, as most EV owners can recharge their vehicles overnight at home or at their jobs. This charging method is particularly appropriate for those with consistent commuting habits, as it does not necessitate the urgency or frequency associated with fast charging.

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Nikita Jabrela

Business Development Manager

Considered in this report • Geography: Chile • Historic Year: 2019 • Base year: 2024 • Estimated year: 2025 • Forecast year: 2030 Aspects covered in this report • Electric vehicle Market with its value and forecast along with its segments • Region & country wise electric vehicle Market analysis • Application wise electric vehicle marker distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Propulsion • Battery Electric Vehicle (BEV) • Fuel Cell Electric Vehicle (FCEV) • Plug-In Hybrid Electric Vehicle (PHEV) • Hybrid Electric Vehicle (HEV)

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By Vehicle Type • Passenger • Commercial • Two Wheelers By charging type • Fast • Normals The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.