Latin America Electric Vehicle Battery Market Outlook, 2027

Latin America Electric vehicle battery market will grow with the CAGR of more than 23.50% by 2027. Brazil is considered to be the fastest growing country.

Featured Companies

  • 1. Panasonic Corporation
  • 2. BYD Company Limited
  • 3. Contemporary Amperex Technology Corporation Limited
  • 4. GS Yuasa International Limited
  • 5. Samsung SDI Co. Limited
  • 6. SK Innovation Co Limited
  • More...

With increasing incentives and a growing network of charging stations, Latin America region wants to simulate greater electric vehicle demands and bring down the transport emissions. Latin America is still at an early stage of adopting the technology. Due to the advancements and improvements occurring in the battery technology, Latin American and Caribbean countries are gradually growing the number of passenger type or privately-owned vehicles on the streets. This trend is expected to increase as governments are focusing on cleaner transport. The transport sector is the largest resource of energy related emissions in Latin America. Car fleet of the region is responsible for 37% of emissions and rest is occurred by trucks or public transportation. Many cities in this region is dealing with unsafe levels of air pollution. Latin America region shows a critical window of opportunities in the process of electrifying transport sector. Latin America has one of the cleanest electricity matrices in the world with 60% installed capacity coming from renewable products and high global average. Car fleet for Latin America is estimated to reach 200 million by 2050. Electric mobility policy is the fastest moving factor in Latin America. Many countries have incentives for electric vehicles such as discounts on sales, environmental and import taxes, revenue-neutral ‘feebates’ that tax polluting cars and reward clean ones. Challenging factors for electric vehicle battery market growth includes upfront cost for developing countries, insufficient charging infrastructures and most of the government subsidies are still directed towards fossil fuels. To overcome these factors, Latin America region needs to have more developing electric mobility strategies.

According to the research report “Latin America Electric Vehicle Battery Market Outlook, 2027" published by Bonafide Research, the electric vehicle battery market is growing rapidly. Latin America Electric vehicle battery market is expected to grow with the CAGR of more than 23.50% by 2027. By the country, Latin America region is segmented into three major sections which are Brazil, Argentina and Columbia. Brazil is segmented to acquire major market share for Latin America region in forecast region. Brazil is considered to be the fastest growing country in terms of electric vehicle battery market in Latin America region. Brazil have one of Latin America’s cleanest energy power grids. One major factor affecting the growth of the EV batteries in Brazil is that government stalls in the existing policies related to the market. There is a lack of coordination between researchers, local governments and manufacturers. Brazil introduced two important policies for EV market including ‘Inova Energia’ and ‘Rota 2030’. Rather than this Brazil has the improved and advanced technology for EV battery market and participates with higher market share in Latin America region. From the expert review, Argentina shows slower growth rate with compared to Brazil. Three electric cars were manufactured in Argentina. They are Sero electric by Movi electric, Tito by Coradir and volt by volt motors. Colombia is the country that sells the most electric vehicles in Latin America. The country’s main goal is to reach 600,000 electric vehicles on Colombian roads by 2030.

The Covid-19 pandemic has increased the use of private travel and car sales in most Latin American cities because of fears of infection on public transportation. Changes occurring in transport use due to COVID-19 pandemic and recovery plans are an important attribute for governments in Latin America to increases the demand and transition to electric mobility. Transport is the major resource of the carbon emissions in Latin America which accounts for one-third of total emissions.
Latin America and the Caribbean has the opportunity, and the potential, to drastically reduce transport emissions and improve urban air quality with electric mobility based on a clean energy mix. 27 from total 33 countries in Latin America have primarily focused on transport as a central element in reaching the emission reduction targets. Urban public transport remains a priority in mobility plans in the region, which has the highest bus use per capita of any of the world’s regions. However, reduced ridership caused by the Covid-19 pandemic changed the use of some public transport. Electric mobility can be the engine of Latin America’s post-pandemic economic recovery.

In Mexico and Brazil there are millions of jobs related to vehicle manufacturing and assembly, so there is great potential to manufacture our own electric vehicles and charging facilities. Latin America’s automotive industry has been slow to transition to electric units, and most of the goods in the region are imported. Similarly, the availability of charging infrastructure is limited to imports. This is why a repurposing of the region’s industries could bring numerous opportunities.

Major Companies present in the market
Hyundai Motor Company, KIA Motors Corporation, BYD Auto, BMW Group, and Groupe Renault.

Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Latin America electric vehicle battery market with its value and forecast along with its segments
• Country-wise electric vehicle battery market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• Brazil
• Argentina
• Columbia

Types of batteries in the report
• Lithium-Ion battery
• Lead Acid battery
• Others (Nickel Metal Hybrid battery, Sodium Ion battery and Solid state)
By Propulsion Type in the report:
• Battery Electric Vehicle
• Plug-In Hybrid Electric Vehicle
• Hybrid Electric Vehicle
Type of Vehicle in the report:
• Passenger Vehicle
• Commercial Vehicle

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 EV battery 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.

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Companies Mentioned

  • Panasonic Corporation
  • BYD Company Limited
  • Contemporary Amperex Technology Corporation Limited
  • GS Yuasa International Limited
  • Samsung SDI Co. Limited
  • SK Innovation Co Limited
  • East Penn Manufacturing Company
  • Mitsubishi Corporation
  • A123 Systems LLC (Subsidiary Of Wanxiang Group Corporation)
  • Beijing Pride Power Battery Technology Co Limited
  • Lithium Energy Japan
  • Targray Technology International Inc
  • E-One Moli Energy Corporation
  • Northvolt AB

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Report Methodology
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Market Definition
  • 4. Economic /Demographic Snapshot
  • 5. Global Electric Vehicle Battery Market Outlook
  • 5.1. Market Size By Value
  • 5.2. Market Share
  • 5.2.1. By Region
  • 5.2.2. By Propulsion Type
  • 5.2.3. By Battery Type
  • 5.2.4. By Vehicle Type
  • 5.2.5. By Company
  • 5.2.6. By Country
  • 6. Latin America Electric Vehicle Battery Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share
  • 6.2.1. By Country
  • 6.2.2. By Propulsion Type
  • 6.2.3. By Battery Type
  • 6.2.4. By Vehicle Type
  • 6.3. Brazil Electric Vehicle Battery Market Outlook
  • 6.3.1. Market Size By Value
  • 6.3.2. Market Share
  • 6.3.2.1. By Battery Type
  • 6.3.2.2. By Propulsion Type
  • 6.4. Argentina Electric Vehicle Battery Market Outlook
  • 6.4.1. Market Size By Value
  • 6.4.2. Market Share
  • 6.4.2.1. By Battery Type
  • 6.4.2.2. By Propulsion Type
  • 6.5. Columbia Electric Vehicle Battery Market Outlook
  • 6.5.1. Market Size By Value
  • 6.5.2. Market Share
  • 6.5.2.1. By Battery Type
  • 6.5.2.2. By Propulsion Type
  • 7. Market Dynamics
  • 7.1. Key Drivers
  • 7.2. Key Challenges
  • 8. Market Trends and Developments
  • 8.1. XXXX
  • 8.2. XXXX
  • 8.3. XXXX
  • 8.4. XXXX
  • 8.5. XXXX
  • 9. Company Profiles
  • 9.1. Contemporary Amperex Technology Co., Limited
  • 9.2. Panasonic Corporation
  • 9.3. BYD Company Limited
  • 9.4. Samsung SDI Co. Limited
  • 9.5. SK Innovation Co Limited
  • 9.6. East Penn Manufacturing Company
  • 9.7. GS Yuasa International Limited
  • 9.8. Mitsubishi Corporation
  • 9.9. A123 Systems LLC (Subsidiary Of Wanxiang Group Corporation)
  • 9.10. Beijing Pride Power Battery Technology Co Limited
  • 9.11. Lithium Energy Japan
  • 9.12. Targray Technology International Inc
  • 9.13. E-One Moli Energy Corporation
  • 9.14. Northvolt AB
  • 10. Strategic Recommendations
  • 11. Disclaimer

List of Tables
Table 1: Top 10 Counties Economic Snapshot 2020
Table 2: Economic Snapshot of Other Prominent Countries 2020
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Electric Vehicle Battery Market Share By Region (2016, 2021&2027F)
Table 5: Global Electric Vehicle Battery Market Share By Battery Type (2016,2021&2027F)
Table 6: Global Electric Vehicle Battery Market Share By Company (2020)
Table 7: Global Electric Vehicle Battery Market Share By Country (2016, 2021&2027F)
Table 8: Latin America Electric Vehicle Battery Market Share By Country (2016, 2021&2027F)
Table 9: Latin America Electric Vehicle Battery Market Share By Battery Type (2016,2021&2027F)
Table 10: Brazil Electric Vehicle Battery Market Share By Battery Type (2016,2021&2027F)
Table 11: Argentina Electric Vehicle Battery Market Share By Battery Type (2016,2021&2027F)
Table 12: Columbia Electric Vehicle Battery Market Share By Battery Type (2016,2021&2027F)
Table 13: Key Facts of Contemporary Amperex Technology Co., Limited
Table 14: Key Facts of Panasonic Corporation
Table 15: Key Facts of BYD Company Limited
Table 16: Key Facts of Samsung SDI Co. Limited
Table 17: Key Facts of SK Innovation Co Limited
Table 18: Key Facts of East Penn Manufacturing Company
Table 19: Key Facts of GS Yuasa International Limited
Table 20: Key Facts of Mitsubishi Corporation
Table 21: Key Facts of A123 Systems LLC (Subsidiary Of Wanxiang Group Corporation)
Table 22: Key Facts of Beijing Pride Power Battery Technology Co Limited
Table 23: Key Facts of Lithium Energy Japan
Table 24: Key Facts of Targray Technology International Inc
Table 25: Key Facts of E-One Moli Energy Corporation
Table 26: Key Facts of Northvolt AB
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List of Figures
Figure 1: Global Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 2: Global Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 3: Global Electric Vehicle Battery Market Share By Vehicle Type (2016, 2021&2027F)
Figure 4: Latin America Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 5: Latin America Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 6: Latin America Electric Vehicle Battery Market Share By Vehicle Type (2016, 2021&2027F)
Figure 7: Brazil Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 8: Brazil Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 9: Argentina Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 10: Argentina Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 11: Columbia Electric Vehicle Battery Market Size By Value2016 to 2027F (In USD Million)
Figure 12: Columbia Electric Vehicle Battery Market Share By Propulsion Type (2016, 2021&2027F)
Figure 13: Market Attractiveness Index, 2021
Figure 14: Market Attractiveness Index, 2027F

Feed Phosphate Market Research FAQs

Brazil leads the electric vehicle battery market with 52% in Latin America region.

Lithium Ion battery is leading the battery market in Latin America market.


Battery electric vehicle (BEV) leads the electric battery market in the segment of type of vehicle.


Passenger type of vehicle has the highest market share in electric vehicle battery market in Latin America.

The electrification of transport is transforming the demand and supply of battery raw materials. In fact, industries expect to see double-digit growth for battery raw materials over the next decade. And their latest research suggests they could face a supply crunch by the mid-2020s, increasing the pressure on the battery raw materials supply chain.








Hyundai Motor Company, Kia Motors, BYD Auto, BMW, Groupe Renault are the major companies operating in Latin America Electric Vehicles Market.







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Latin America Electric Vehicle Battery Market Outlook, 2027

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