Uruguay quietly leads EV adoption in South America through effective tax incentives

Much of the attention on South & Central America’s transition to electric vehicles (EVs) focuses on Mexico and Brazil owing to their large total vehicle markets and automakers establishing EV production capacity in both.  However, it is Uruguay that has quietly risen to lead EV adoption in the region. It achieved a penetration rate of 40% over the first seven months of the year, surpassing numerous European countries, including France, Germany and the UK.  "Uruguay is a testament to how tax policy can be a really effective tool to create quick change regarding EV adoption in a relatively short period of time under the right market and economic conditions,” said Benchmark EV analyst George Whitcombe.