Electric Vehicles

Argentina has one of the largest lithium reserves in the world. This metal is key for developing batteries for electric vehicles. Electromobility is a key factor in decarbonizing the planet and mitigating climate change.

However, while the country is establishing itself as a protagonist in the supply of 'white gold' and in developing batteries, the use of electric vehicles on Argentine streets is just beginning.

The offering of brands and models grows each year, but electric and hybrid vehicles accounted for just over 2% of the nearly 450,000 units registered in 2023. In Europe, the percentage reaches almost 50%. (https://www.weforum.org/agenda/2023/11/electric-car-sales-europe-barriers-ev-adoption/)

Most registrations were for imported models. However, there are several domestic factories offering vehicles with unique formats.

What is the offering in Argentina?
Among the electric vehicles manufactured in Argentina, models are currently limited to categories L6b and L7b, which are light quadricycles with a cabin for transporting people or cargo' and are less than 3 meters long according to regulations.

For these vehicles to circulate on public roads, they must have Model Configuration Licenses (LCM) and Environmental Configuration Licenses (LCA). The former ensures the vehicle meets active and passive safety standards, while the latter focuses on reducing emissions, vehicle noise, and radiation.

Some models are only intended for use in private areas such as gated communities, industrial complexes or golf courses, as not all models have these certifications.
The five factories in Argentina selling electric cars are:

Coradir: Responsible for the Tito, the best-selling national electric model. The factory is in San Luis(https://movilidad.coradir.com.ar/). It features two models and six versions. The most complete and largest is the extended and enhanced Tito S5. It has a 21 kWh Lithium Iron Phosphate (LFP) battery with 2,000 cycles that charges in 8 hours. The 5-door, sheet metal bodywork car has a range of 300 kilometers and a top speed of 95 km/h. Fits four people.
Volt Motors: The company from Córdoba (https://voltmotors.com.ar/) manufactures 3 models. The Volt E1 Urban Mobility uses an LFP battery that charges in 10 hours and provides a range of 200 kilometers. It reaches a maximum speed of 105 km/h. It has a capacity of 760 liters, 3 doors, carbon fiber body, and technology pack. The company states that over 60% of parts are national.
Sero Electric: The company is located in Castelar, Buenos Aires. (https://www.seroelectric.com/). They manufacture 5 electric models, although not all have approval for public road use. The Sero Sedan is designed as an urban car. It has a range of 100 kilometers and a maximum speed of 50 km/h. The battery charges in 6 hours. It can carry up to 270 kilograms.
Hamelbot: The company from Misiones (https://www.hamelbot.com/)developed the CR2 electric vehicle. It uses a 60V lithium-ion battery with a range of 150 kilometers and reaches a maximum speed of 60 km/h. The battery charges in 6 hours. It has a carbon fiber and glass body and is designed to transport two people and cargo. The company also manufactures a smart electric mini-tractor.
GreenGo: Modulo is the curious electric vehicle from GreenGo Cars (https://greengoecars.com/), in Rosario, Santa Fe. It is a single-seat utility vehicle made of fiberglass and motorcycle wheels. The lithium battery (with Nickel, Manganese and Cobalt) provides an 80-kilometer range and a speed of 40 km/h. It charges in 5 hours. Load capacity of 280 kilograms.

Growth in Electric Vehicle Registrations in 2023

In 2023, 9,601 hybrid and electric vehicles were registered in Argentina, marking a 21.3% increase from 2022. 85% of these units were hybrids of HEV and MHEV technologies. The latter option is now default in high-end models, replacing gasoline engines directly.

Furthermore, the market shows a consolidation of small and 100% electric vehicles, all manufactured in Argentina. They accounted for 4% of total registrations, with Tito leading the way.
In 2023, the electric and hybrid engine sector comprised 16 brands with a total of 38 models.
The most registered car was the Toyota Cross HEC, with a total of 4,509 units in 2023. It was followed by the Toyota Corolla HEV (2,696) and Ford Maverick HEV (403). Fourth was the Tito with 218 units and the first in the ranking that runs on batteries only. Meanwhile, 56 of the Tito model were sold. 16 units of the Sero brand were registered and 1 of the Volt.

Investment from a Chinese company

The latest major news in the sector was the announcement of a significant investment in Argentina by Chery, China's largest car manufacturer. The news was announced at the beginning of 2023.
The goal is to build an electric vehicle factory in the country to supply Latin America. Along with Chery comes Gotion, another Chinese company specializing in battery manufacturing. This company is considering setting up a plant in Jujuy, in collaboration with the local company Jemse. Chery has not yet decided on the location for its facility.

In Uruguay, the Chinese company is already importing and selling the EQ1 model, which is 100% electric and can reach speeds of up to 120 km/h thanks to a 30.8 kWh lithium battery capacity.