[{"data":1,"prerenderedAt":745},["ShallowReactive",2],{"ticker-data":3,"story-article/uruguay-quietly-leads-ev-adoption-in-south-america-through-effective-tax-incentives":540},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":743,"relatedVideos":744},211494539605238,"a02c2d9a-19c3-4624-ad22-d4cd6f4ebb34","Uruguay quietly leads EV adoption in South America through effective tax incentives ","uruguay-quietly-leads-ev-adoption-in-south-america-through-effective-tax-incentives","article/uruguay-quietly-leads-ev-adoption-in-south-america-through-effective-tax-incentives",{"_uid":547,"date":548,"tags":549,"editor":562,"content":572,"excerpt":713,"featured":51,"reporter":714,"component":724,"seo_title":725,"categories":726,"visibility":730,"data_vis_image":731,"featured_image":736,"seo_description":740,"side_panel_banner":587,"formattedDate":741,"formattedArticleDate":742},"93f70d5e-8ce2-463e-924a-f49be725e3e4","2026-08-21 00:00",[550,553,556,559],{"slug":551,"name":552},"south-america","South America",{"slug":554,"name":555},"ev-sales","EV Sales",{"slug":557,"name":558},"data-visualisation","Data Visualisation",{"slug":560,"name":561},"uruguay","Uruguay",[563],{"slug":564,"name":565,"content":566},"matthew-bird","Matthew Bird",{"job_title":567,"image":568,"bio":570,"linkedin":571},"Senior Editor - Supply Chains & Data Visualisation",{"filename":569},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":573,"attrs":574,"content":575},"doc",{"backgroundColor":49},[576,605,628,650,660,672,680,688,696,705],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580,588,600],{"text":581,"type":582,"marks":583},"Much of the attention on South & Central America’s transition to electric vehicles (EVs) focuses on ","text",[584],{"type":585,"attrs":586},"textStyle",{"color":587},"",{"text":589,"type":582,"marks":590},"Mexico and Brazil",[591,598],{"type":592,"attrs":593},"link",{"href":594,"uuid":595,"anchor":49,"target":596,"linktype":597},"/article/influx-of-chinese-made-evs-into-mexico-and-brazil-ahead-of-tariff-changes","15a7fc41-9adc-44bf-aa24-0534e0e1639a","_self","story",{"type":585,"attrs":599},{"color":587},{"text":601,"type":582,"marks":602}," owing to their large total vehicle markets and automakers establishing EV production capacity in both. ",[603],{"type":585,"attrs":604},{"color":587},{"type":577,"attrs":606,"content":608},{"textAlign":607},"left",[609,614,623],{"text":610,"type":582,"marks":611},"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 ",[612],{"type":585,"attrs":613},{"color":587},{"text":615,"type":582,"marks":616},"European countries",[617,621],{"type":592,"attrs":618},{"href":619,"uuid":620,"anchor":49,"target":596,"linktype":597},"/article/global-ev-sales-reach-1-85-million-units-in-july-2026","df926f63-3f32-47b2-87b9-811cbdf7acc8",{"type":585,"attrs":622},{"color":587},{"text":624,"type":582,"marks":625},", including France, Germany and the UK. ",[626],{"type":585,"attrs":627},{"color":587},{"type":577,"attrs":629,"content":630},{"textAlign":607},[631,636,645],{"text":632,"type":582,"marks":633},"\"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 ",[634],{"type":585,"attrs":635},{"color":587},{"text":637,"type":582,"marks":638},"George Whitcombe",[639,643],{"type":592,"attrs":640},{"href":641,"uuid":642,"anchor":49,"target":596,"linktype":597},"/videos/which-regions-have-the-fastest-growing-ev-markets-","be85ddf9-b2d5-41ce-b184-6d0c8c8ee4dc",{"type":585,"attrs":644},{"color":587},{"text":646,"type":582,"marks":647},". ",[648],{"type":585,"attrs":649},{"color":587},{"type":651,"attrs":652},"blok",{"id":653,"body":654},"3a6bf4ea-039e-4f0d-98e2-676c4e715668",[655],{"id":656,"_uid":657,"type":658,"component":659,"fixed_height":587,"use_fixed_height":50,"fixed_height_mobile":587,"fixed_height_tablet":587},"30030890","i-2b6c4e15-96d8-47b5-979e-0e1bf45c931f","visualisation","ContentFlourish",{"type":661,"attrs":662,"content":664},"heading",{"level":663,"textAlign":607},2,[665],{"text":666,"type":582,"marks":667},"Uruguay has established strong tax incentives for BEVs ",[668,670],{"type":585,"attrs":669},{"color":587},{"type":671},"bold",{"type":577,"attrs":673,"content":674},{"textAlign":607},[675],{"text":676,"type":582,"marks":677},"Its small total vehicle market, similar to that of Finland and Croatia, and economic growth since the late 2000s have enabled its array of tax incentives supporting EV adoption to prove more effective than what has been seen in neighbouring countries. ",[678],{"type":585,"attrs":679},{"color":587},{"type":577,"attrs":681,"content":682},{"textAlign":607},[683],{"text":684,"type":582,"marks":685},"In January 2022, BEV passenger cars were granted an exemption from IMESI (excise tax levied on the first sale of a good). From January 2027, some BEVs will become subject to IMESI based on import value. Vehicles under USD19,000 will remain exempt, while vehicles over USD27,000 will be subject to a 9% charge, and vehicles between that range will face a 5% charge. ",[686],{"type":585,"attrs":687},{"color":587},{"type":577,"attrs":689,"content":690},{"textAlign":607},[691],{"text":692,"type":582,"marks":693},"Since 2015, BEVs have been exempt from customs duty, while ICE vehicles are subject to a 23% charge. However, BEVs are not exempt from the standard 22% VAT all cars are subject to. The array of tax incentives for BEVs has enabled BYD to become the best-selling automaker over the first seven months of the year. ",[694],{"type":585,"attrs":695},{"color":587},{"type":661,"attrs":697,"content":698},{"level":663,"textAlign":607},[699],{"text":700,"type":582,"marks":701},"Weakening tax incentives still favour BEVs ",[702,704],{"type":585,"attrs":703},{"color":587},{"type":671},{"type":577,"attrs":706,"content":707},{"textAlign":607},[708],{"text":709,"type":582,"marks":710},"While there will likely be a ramp-up in BEV sales in the final months of the year as consumers purchase a BEV before they become subject to IMESI, the market is unlikely to see a collapse the following year. The customs duty exemption is expected to remain in place and despite the change in IMESI, BEVs are still subject to a lower rate than conventional ICE vehicles which face rates of 23% to over 46%. ",[711],{"type":585,"attrs":712},{"color":587},"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. \n\nHowever, 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. \n\n\"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. ",[715],{"slug":716,"name":637,"content":717},"george-whitcombe",{"job_title":718,"image":719,"bio":721,"linkedin":722,"markets_covered":723},"Analyst - EV",{"filename":720},"https://a.storyblok.com/f/287943243085208/500x500/e5fa44ebf8/george-whitecombe.jpeg","George is an EV Analyst at Rho Motion, working in the EV & Battery research team. He works extensively on global EV sales and production analysis, considering the economic and legislative factors that influence both. He also focuses on the strategy of automotive OEMs in the transition to EVs and feeds that into the team’s view on global vehicle markets. George graduated from the University of Exeter with a First Class Honours degree in Politics, Philosophy and Economics.","https://www.linkedin.com/in/george-whitcombe-2320111b6/","EV and Battery","article","Uruguay leads EV adoption in South America through effective tax",[727],{"slug":728,"name":729},"ev","EV","private",{"id":732,"alt":587,"name":587,"focus":587,"title":587,"source":587,"filename":733,"copyright":587,"fieldtype":734,"meta_data":735,"is_external_url":50},211496339938961,"https://a.storyblok.com/f/287943243085208/1588x1484/34de7b6042/uruguay-s-ev-penetration-rate-2x.png","asset",{},{"id":737,"alt":587,"name":587,"focus":587,"title":587,"source":587,"filename":738,"copyright":587,"fieldtype":734,"meta_data":739,"is_external_url":50},211495836278390,"https://a.storyblok.com/f/287943243085208/7749x5158/cd2faeb337/uruguay.jpeg",{},"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.","Aug 21, 2026","21st August 2026",[],[],1787328805646]