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Ethiopia opens the new energy era: it becomes the first country in the world to ban the sale of fuel cars! On 4 February 2024, Ethiopia’s Ministry of Transport and Logistics announced a major decision that will ban fuel vehicles from the country and restrict sales to only electric vehicles. This move makes Ethiopia the first country in the world to officially announce a ban on the sale of fuel cars. The reason behind the decision is said to be the fact that Ethiopia spends nearly $6 billion on importing fossil fuels in 2023, more than half of which is spent on fuel vehicles. Faced with the high expenses maintained by fuel vehicles, Ethiopia’s transport and logistics minister officially announced the ban on Monday. He said that petrol and diesel are currently unaffordable in Ethiopia, hence the urgent need to shift to more affordable and sustainable electric vehicles. In the future, Ethiopia will invest heavily in the construction of charging stations for electric vehicles in order to promote their popularity. It is worth noting that this ban on fuel vehicles in Ethiopia is not an ad hoc decision, but rather the result of its massive investment in energy infrastructure over the past 20 years. Although the country has achieved 97 per cent of its energy from renewable sources, it still faces the challenge of inadequate power supply. The decision has sparked a global focus on new energy sources and sustainable development. In addition to Ethiopia, the European Union, some US states, Canada, Japan, Singapore, India, New Zealand and other countries have also drawn up plans to ban the sale of fuel vehicles, which will be completed by 2040 at the latest. Ethiopia’s initiative signals the arrival of a new energy era in which countries will work together towards a greener, sustainable future.

1. Saudi Arabia New Energy Electric Vehicle and Charging Pile Market Analysis As an important player in the global energy market, Saudi Arabia has made significant progress in the field of new energy electric vehicles and charging piles in recent years. With the global emphasis on sustainable development, the Saudi government is actively promoting the popularity of electric vehicles (EVs) and stimulating market growth through a series of policy measures aimed at diversifying the energy mix. Data shows that EV sales in Saudi Arabia are expected to reach 100,000 units by 2025, with an average annual growth rate of more than 20 per cent. This growth is mainly driven by government policies, technological advancements, and rising environmental awareness among consumers. Charging infrastructure is key to the popularity of EVs. The Saudi government plans to establish extensive charging networks in major cities and transport hubs to meet the growing demand for EV charging. It is expected that more than 500 public charging stations will be built in Saudi Arabia by 2025, covering major cities and highways across the country. In addition, the installation of private charging posts is gradually increasing, and the government is providing subsidies to individuals and businesses to encourage the installation of charging equipment in homes and commercial premises, thereby enhancing the convenience of using EVs. The new energy EV market in Saudi Arabia has attracted the participation of many well-known domestic and international automakers. International brands such as Tesla, Nissan, and BMW occupy an important position in the Saudi market, while local companies such as Aljazirah Vehicles Agencies and Saudi Electric Vehicle (SEV) are also accelerating their presence and launching electric vehicle models suitable for the local market. Increased competition in the market is driving technological innovation and product diversification, providing consumers with more choices. With increasing environmental awareness and government incentives, Saudi consumers’ acceptance of electric vehicles has increased significantly. More and more people are choosing electric vehicles as their daily travelling tools, not only because of their environmental attributes, but also because of their greater advantages in terms of maintenance costs and energy use. In addition, the younger generation in Saudi Arabia is more receptive to new technologies, which has become an important driver for the EV market. Despite the promising market outlook, the Saudi new energy EV market still faces some challenges. The first is the uneven layout of charging piles, with insufficient charging facilities in some remote areas. Secondly, the overall battery technology still needs time to improve, and the range and charging speed of EVs need to be further improved. Finally, consumer awareness and acceptance of EVs need to be continuously improved, and the government and enterprises need to increase consumer confidence through publicity, education and practical experience. Overall, Saudi Arabia’s new energy electric vehicle and charging pile market is in a stage of rapid development, with policy support, technological advances and continued growth in market demand, the future outlook is very optimistic. 2. Saudi Arabia new energy electric vehicle and charging pile industry segmentation Saudi Arabia’s new energy electric vehicle and charging pile industry covers a number of segments, each of which plays an important role in the market and promotes the booming development of the whole industry. The following is a detailed breakdown by type: Electric Vehicle Manufacturing Passenger Electric Vehicles : There is a growing demand for passenger electric vehicles in the Saudi market. International brands such as Tesla, Nissan, and BMW are dominating the market, while local players such as Aljazirah Vehicles Agencies and Saudi Electric Vehicle (SEV) are accelerating the development and launch of electric models suited to local needs. Commercial Electric Vehicles (EVs): These include electric vans and electric buses. With increasingly stringent environmental regulations, the commercial EV market is also expanding rapidly, especially in the public transport and logistics sectors. Charging Facilities Public charging stations: The Saudi government plans to build a large number of public charging stations in major cities and along highways, with over 500 charging stations to be built by 2025. Private charging stations: The government provides financial subsidies for the installation of private charging stations in homes and commercial premises to promote the popularity of private charging facilities. Supporting Facilities and Services EV Repair and Maintenance: As the number of EVs increases, so does the demand for EV repair and maintenance services. Several automotive repair and service centres are expanding their EV service business. Charging Station Operation and Maintenance: Operation and maintenance of charging stations is a key component to ensure efficient operation of charging networks. Several companies provide professional charging station operation and maintenance services. Electric Vehicle Rental and Sharing: Electric vehicle rental and sharing services are emerging in Saudi Arabia, providing citizens with convenient travelling options. Energy Management Smart grid technology: The application of smart grid technology makes EV charging more efficient and reliable, and optimises the distribution and use of electricity. Energy storage system: The energy storage system plays a role in balancing power demand during EV charging and improves energy utilisation efficiency. 3. Saudi Arabia new energy electric vehicle and charging pile government policy 2030 Vision Plan Clearly sets out the goal of promoting new energy electric vehicles in the transport sector. Emphasises the development of renewable energy and electric vehicles to achieve economic transformation and environmental protection. Sets a target of deploying 500,000 charging piles by 2030 nationwide. Vehicle Purchase Incentives Provide car purchase subsidies to reduce the cost of purchasing electric vehicles. Tax relief policies to exempt EV registration fees and related taxes. Low-interest loan support to increase public acceptance of EVs. Infrastructure Development Actively co-operate with private enterprises to promote the installation and operation of charging piles. Introduce internationally renowned charging equipment suppliers to enhance the efficiency of charging services. Public-private partnership model to accelerate charging network construction and create more business opportunities. Investment in R&D Strengthen R&D investment in the EV sector and set up a special fund to support technological innovation. Encourage local enterprises and research organisations to jointly develop electric

1. Analysis of the new energy electric vehicle and charging pile market in the Philippines The Philippines is one of the largest automobile markets in Southeast Asia, with a population of over 100 million and a car ownership of nearly 10 million. However, the Philippine automobile market also faces some challenges, such as high fuel prices, severe traffic congestion, poor air quality and greenhouse gas emissions. These problems have prompted the Philippine government and people to pay attention to and demand new energy electric vehicles (NEVs). According to Statista, sales of new energy vehicles in the Philippines will increase from 378 in 2020 to 1013 in 2022, an increase of 20.17% year-on-year. This growth is mainly due to the Electric Vehicle Industry Development Act (EVIDA) passed by the Philippine government in 2022, which provides a series of preferential policies for new energy electric vehicles, such as tax exemptions, free parking, green channels, and priority purchases. In addition, the Philippine government is also promoting a modernization plan for public utility vehicles (PUVs), requiring the gradual phasing out of old jeeps and replacing them with vehicles that meet Euro standards or new energy electric vehicles. The implementation of these policies has created a favorable development environment and potential market space for the new energy electric vehicle market in the Philippines. The new energy vehicle market in the Philippines is also influenced by international and regional factors. As the world pays more attention to climate change and carbon neutrality and takes action, more and more countries and regions have imposed restrictions or bans on traditional fuel vehicles, such as China, the European Union, India, Japan, etc. These countries and regions are also the main sources of car imports for the Philippines. Therefore, changes in their policies will affect the supply and price of cars in the Philippines, thus stimulating demand for new energy vehicles in the Philippines. Analysis of the new energy vehicle and charging pile market in the Philippines shows that the market has high growth potential and development prospects, and has received support and promotion from many domestic and foreign parties. However, the market also has some challenges and risks, such as the cost and price of new energy vehicles are still relatively high, the number and distribution of charging piles are still insufficient, consumer awareness and acceptance still needs to be improved, and the threat and pressure from competitors is still relatively high. Therefore, the new energy vehicle and charging pile industry in the Philippines needs to make more efforts and innovations in terms of policy, technology, market, cooperation, etc., in order to achieve sustainable development and competitive advantage. 2. Segmentation of the electric vehicle and charging pile industry in the Philippines, Southeast Asia According to the latest market research, the electric vehicle and charging pile industry in the Philippines, Southeast Asia is showing a remarkable growth trend in 2024. Let’s take an in-depth look at the segmentation and development of this field. Electric vehicle market Market size: In 2024, the Philippine electric vehicle market is expected to reach 1.14 billion US dollars, and is expected to grow to 4.7 billion US dollars by 2029, with a compound annual growth rate of 32.73%. Vehicle types: The electric vehicle market covers passenger cars, commercial vehicles, light electric vehicles, special-purpose electric vehicles, and electric water and air transport vehicles. Technology trends: Particular attention is paid to the range, charging speed, energy efficiency ratio, and intelligence level of electric vehicles. Charging station market Number of charging stations: As of June 2022, there were 1,131 charging stations in the Philippines, of which 1,017 were slow charging stations, accounting for 89.9%, and 114 were fast charging stations, accounting for 10.1%. Type of charging stations: Charging stations are divided into DC chargers (DC) and AC chargers (AC). Investment opportunities Diversified investment opportunities: There are diversified investment opportunities in the market, including the construction of charging infrastructure in cities and residential areas. Local enterprises and start-ups: Local enterprises and start-ups will also showcase innovative products and solutions, demonstrating the vitality and potential of the electric vehicle industry in the Philippines. The electric vehicle and charging pile industry in the Philippines is in a stage of vigorous development, and government policies, technological innovation and market demand will continue to drive growth in this field. 3. Philippine new energy electric vehicles and charging piles Government policies The Philippine government has actively promoted the development of electric vehicles and charging piles in recent years to address serious air pollution problems, improve energy security, and promote the growth of a local electric vehicle industry ecosystem. The following are some of the Philippine’s policy measures in the field of electric vehicles and charging piles: Tariff reduction: Starting in 2023, the Philippines will implement a zero-tariff policy on imported pure electric vehicles, electric two-wheelers and their parts to encourage domestic consumers to purchase electric vehicles, reduce dependence on imported fuels, improve energy security and promote the development of the local electric vehicle industry. Subsidy policy: Indonesia and Thailand have decided to provide a subsidy of more than 3,000 yuan per electric motorcycle, demonstrating the determination of these two major markets to go electric. These demonstration effects are expected to drive the promotion of electric vehicles throughout Southeast Asia. Local manufacturing support: The Philippine government has given incentives to the new energy vehicle manufacturing industry and the setting up of electric vehicle charging stations to encourage the development of the local electric vehicle industry. In addition, zero tariffs are imposed on the import of parts and components for electric vehicles and hybrid vehicles, which further promotes the establishment of a local industrial chain. The Philippine government’s policy measures in the field of electric vehicles and charging piles will help promote the development of the market, improve energy security, reduce environmental pollution, and create more opportunities for local industries. 4. Southeast Asia Philippines Electric Vehicle and Charging Pile Market Trends The electric vehicle market is in a stage of rapid growth. The Philippine government’s

The market for electric vehicles is gradually developing on the African continent. The main economic power in the West African Economic and Monetary Union, Côte d’Ivoire, has seen particular momentum in recent years. With a GDP of nearly 71 billion US dollars and expected to reach 101 billion US dollars by 2026, Côte d’Ivoire is a land of opportunity for foreign investors. Côte d’Ivoire has a favorable business environment conducive to creating sustainable wealth. Its welcoming policies towards foreign investors, abundant resources (as a foundation for economic development), stable currency exchange rates and strategic geographical location have made Côte d’Ivoire stand out in industries with great potential, such as green energy. Current situation of electricity in Côte d’Ivoire Côte d’Ivoire has almost achieved universal access to electricity in urban areas, but about 8.3 million people in rural areas still do not have regular access to electricity. The main reason for the low electricity access rate of 33% in rural areas is the high upfront grid connection costs, especially in the central and northern regions. The government has made grid extension the primary electrification policy and launched the “Electricity for All Program” with the goal of achieving 100% access to electricity, including in rural areas, by the end of 2025. Additional construction and increased available resources are urgently needed to expand electricity access in rural areas. Although Côte d’Ivoire’s current per capita emissions are not high, the country still needs to invest more in the field of renewable energy in order to ensure that development can remain at a relatively high level and achieve low carbon environmental protection in the future with population growth. The journey to decarbonization: the path to a green future Transport accounts for 20% of total greenhouse gas (GHG) emissions, and in mega-urban areas this proportion is as high as 40%. This pollution has increased by an average of 1.7% per year for 30 years. According to the International Energy Agency, greenhouse gases from transport must be reduced by more than 3% per year to achieve net zero emissions by 2030. Without alternatives to carbon-based transport, carbon emissions in the world’s fastest-growing cities will continue to rise. Passenger transport demand could increase by 75% by 2050 compared to 2019 levels, with catastrophic consequences for the planet if these carbon emissions are not drastically reduced. Côte d’Ivoire ratified the Paris Agreement in October 2016. Its renewable energy targets for autonomous supply include achieving 42% of electricity generation from renewable sources by 2030, of which 26% will come from hydropower, at an estimated cost of USD 12.9 billion, which is in line with the targets of the National Action Plan for Renewable Energy (PANER). The development of small hydropower stations, off-grid solar power stations, biomass and biogas energy use is also mentioned in the national autonomous supply, but without quantitative targets. To achieve these targets, Côte d’Ivoire’s electricity generation should gradually shift from natural gas to renewable energy sources. Between 2016 and 2018, the country doubled the share of renewable electricity generation from 15% to 30%. It achieved this by replacing about 17% of natural gas generation with hydropower (IRENA, 2020b). International public investment has been particularly important for Côte d’Ivoire to accelerate the achievement of its nationally determined contribution (NDC) targets. Between 2010 and 2018, international public investment totalled USD 1 billion (IRENA, 2020a). A large amount of public investment was focused on hydropower, in particular the Gribo-Popoli hydropower project in 2017 ($459 million) and the Soubre hydropower project in 2013 ($485 million). Increasing public investment could be a key strategic objective for Côte d’Ivoire, given the link between public investment in these projects and the increase in renewable electricity from hydropower. Côte d’Ivoire is committed to reducing greenhouse gas emissions by 30.41% by 2030 and intends to strengthen its resilience to climate change. Côte d’Ivoire’s legislative framework and ecosystem are conducive to the development of a green economy, and the government has also increased awareness of the development of green energy in the report on the National Sustainable Development Strategy 20212025. In 2024, the Côte d’Ivoire Tax Administration’s annex included information to encourage businesses to use renewable energy, sending a signal that the government is gradually focusing on greening the economy. In March 2024, the International Monetary Fund provided Côte d’Ivoire with a loan worth US$1.3 billion for resilience and sustainable development (FRD). To this end, the Côte d’Ivoire government has set a target of 10% of the country’s road traffic being electric vehicles. The overall state of the Côte d’Ivoire car market · It is estimated that the passenger car market revenue will reach 135.8 million US dollars in 2024, with an estimated annual growth rate of revenue (CAGR 2024-2029) of 0.18%. The market size is expected to reach 137 million US dollars by 2029. · The largest number of passenger cars in the market are SUV models, and their market size is expected to reach 52.2 million US dollars in 2024. Toyota: In 2023, Toyota will have a significant presence in the Ivorian car market, accounting for 25% of total sales. Toyota Motor Corporation and the Ivorian government signed an agreement to establish an automobile assembly plant in the West African country. The agreement, which was officially signed during the Japan-Africa Development Conference in Yokohama, Japan, marks an important step in Toyota’s commitment to the African automotive sector. The assembly plant has not yet been completed, but after an interview with Japanese Foreign Minister Kamikawa in Abidjan in April 2024, Ivorian head of state Ouattara called for the establishment of a “Toyota” car assembly plant in Côte d’Ivoire “as quickly as possible”. Suzuki: In 2020, Suzuki had a market share of about 18% in Côte d’Ivoire. It performed well in the region, especially the Suzuki Vitara and the Suzuki Alto taxi for the city, which are widely used in cities such as Abidjan. Although specific market share data for 2023 is not readily available, based on recent performance, Suzuki is likely to continue to

Egypt is currently striving to promote the development of the electric vehicle industry and enhance the country’s potential as a manufacturing and export center for electric vehicles. The Egyptian government has already begun implementing plans for the mass production of electric vehicles, striving to achieve nearly 100% local procurement of components in the future. The Egyptian government has also introduced measures to invest approximately 1.5 billion US dollars in the expansion of the country’s electric vehicle manufacturing plants and charging stations. According to Egyptian media reports, GV Investment Company of Egypt and China FAW Group recently reached a cooperation agreement to produce affordable electric vehicles in the Middle East. GV Investment Company Chairman Sharif Hamouda said that under the agreement, its subsidiary will start producing China FAW’s affordable electric vehicles in Egypt in the first quarter of 2025. These vehicles are expected to be used mainly for online car-hailing services. GV Investment Company aims to localize 65% of the vehicle’s components within the next three to five years and export its products to the Middle East, Africa, Europe and Latin America. Egypt’s newspaper Al Ahram reported that Chinese electric vehicle technology is mature and reliable. Egypt can benefit from cooperating with China, which will not only help the development of the country’s automobile manufacturing industry and industrialization process, but also have a positive and significant impact on green development, reducing carbon emissions, reducing pollution, and combating climate change. The Egyptian government strongly advocates the development of the electric vehicle industry as an important step in energy transformation, energy conservation and emission reduction. Pyramid Online reported that Egyptian President al-Sisi said in a statement that Egypt will step up efforts to promote the localized production of electric vehicles and improve related infrastructure construction. As early as 2021, Egypt launched its first locally produced electric vehicle, the “E70 Nasser,” which was manufactured by a partnership between China’s Dongfeng Motor Corporation and Egypt’s Nasser Company, with a localization ratio of 58%. Egypt has a population of about 105 million, making it the most populous country in North Africa. According to Egyptian media reports, in the first three months of 2024, sales of electric vehicles in the Egyptian car market surged, with a total of 1,419 vehicles sold, including 544 in January, 469 in February, and 406 in March, which is almost one-third of the number of electric vehicles sold in the past three years. Egyptian automotive experts and industry insiders are optimistic about the new energy automotive market in Egypt and are looking forward to Sino-Egyptian cooperation. Egyptian automotive expert Radif said that China is a world leader in the manufacturing of batteries and electric vehicles. He hopes that China and Egypt can cooperate more in the manufacturing of electric vehicles to produce electric vehicles that meet the needs of Egyptian citizens. Radif also refuted the accusations by Western countries that “China is exporting excess production capacity overseas,” calling it “nonsense” and slander with ulterior motives. Abu Magid, Chairman of the Egyptian Automobile Dealers Association, said that Chinese electric vehicles have had a significant impact on the development of the world’s electric vehicle industry and have taken it to a new level. Egypt looks forward to cooperating with China in this field. This is the best choice for the development of Egypt’s electric vehicle industry.

Peru’s electric vehicle market continues to grow significantly. According to data provided by the Asociación Automotriz del Perú(AAP), sales of electric vehicles increased by 50 percent in the first quarter of the year, with the total number of unregistered vehicles reaching 1,433. The dynamism of the electric vehicle market in Peru can be attributed to a large extent to the demand for hybrid vehicles,” said David, Marketing and Corporate Affairs Manager at Toyota Peru. Approximately 89% of the cars sold in Peru have this technology, 36% of which are hybrid electric vehicles (HEVs) and the rest are mild hybrids (Mild HEVs).” The executive emphasized that electric hybrids are the most convenient option for consumers because they do not need to worry about charging, which is one of the main problems with the limited number of charging stations. Peru has 58 charging stations throughout the country, but only eight of them are fast charging stations. In addition, the price range of these vehicles is more affordable for consumers than other electrification technologies. For this reason, electric hybrids are the most suitable transition option in Peru. In the first quarter of this year, more than 1,200 hybrid vehicles were sold, including 514 unregistered hybrids. This technology, which combines an internal combustion engine with an electric engine, helps reduce CO2 emissions by up to 40%, compared to 10% for mild hybrids. In terms of the geographical distribution of sales, Lima concentrated nearly 83 percent of electric vehicle sales, followed by Arequipa and Trujillo with shares of 5.7 percent and 3.3 percent, respectively. He said, “Since last year, automotive brands have shown great interest in expanding their operations to more regions of Peru.” Electric vehicle sales in 2023 will be 4,484 units, an increase of 67.3% over 2022 sales.

Recently, the Municipality of Panama issued a new policy announcing that owners of electric vehicles in the Panama District will be exempt from transportation taxes for the first five years of ownership. Ana Polo, director of fees at the municipal treasury, explained that this measure is part of the Green License Program, which aims to improve environmental standards in the province of Panama. “The green license plates have already been issued and vehicle owners need only go to the municipal office to complete the registration of their vehicles to benefit from the tax exemption.” Polo elaborated. She further revealed that the relevant authorities are currently updating and refining their statistics and expect to complete the detailed registration of this new batch of vehicles in the coming weeks, as well as checking the data with the companies selling the electric vehicles. According to data provided by the State Secretariat for Energy (SNE), sales of electric vehicles reached 371 units in 2023, a growth rate of more than 50 percent compared to 160 units in 2022. In addition, sales figures for the first four months of 2024 show strong growth in the electric vehicle market: Juan Navarro, president of the Panamanian Energy Chamber of Commerce, said on TVN News that the starting price for these electric cars is $10,000 with no ceiling. There is reasonable pricing for the various brands on the market, while local banks offer financing for the purchase of these vehicles, further lowering the barrier to purchase. Regarding how the electric vehicles work, Navarro explains, “Instead of relying on gasoline, these vehicles are powered by rechargeable batteries that have a range of up to about 300 kilometers, which is equivalent to the distance from the capital to Santiago de Veraguas.” Users can charge them at home or anywhere by installing a charger, or even by utilizing solar panels. In terms of maintenance, Navarro noted that EVs cost about 50 percent less to maintain than traditional gasoline vehicles and are simpler. Since electric cars have no internal combustion engine components, only the battery and conventional parts, such as tires and shock absorbers, need to be maintained, and the warranty on the battery is usually up to 10 years. He also emphasized that Panama is ready for these environmentally friendly and economical vehicles, with more than 170 charging stations for electric vehicles already in place throughout the country.

Guyana, a country located in northeastern South America, is not prominent on the global economic map, but the development of its electric vehicle industry has its own unique history and current status. Guyana’s electric vehicle industry got its start late, but in recent years it has begun to emerge as the global focus on sustainable energy and reducing carbon emissions has intensified. The history of Guyana’s electric vehicle industry dates back to the early 21st century, when global interest in electric vehicles began to rise. However, initial investment and development was relatively slow due to the small domestic market. It is only in the last decade, as technology has advanced and costs have fallen, that the Government of Guyana has begun to place greater emphasis on electric vehicles as a way to reduce the country’s dependence on fossil fuels. The government has introduced a range of incentives, including tax incentives, subsidies for vehicle purchases, and support for the construction of charging infrastructure to promote the adoption of EVs. In terms of the current state of the market, the electric vehicle industry in Guyana is still in its growth phase. Currently, there are limited brands and models of electric vehicles available in the market, but with the entry of international brands such as Tesla and Nissan into the market, consumers’ choices are gradually increasing. Additionally, local companies have begun to venture into the production and sale of electric vehicles, albeit on a smaller scale, signaling the potential for growth of the local industry. At the policy level, the Guyana government has developed a clear roadmap to promote the development of the electric vehicle industry. According to official releases, the government plans to significantly increase the number of public charging stations and encourage private investment in more charging facilities in the coming years. At the same time, the government is also considering imposing higher taxes on traditional fuel vehicles as a way to further stimulate demand for electric vehicles. In terms of economic impact, the growth of the electric vehicle industry has brought new jobs and business models to Guyana. The entire industry chain, from car sales to maintenance services to battery recycling, is gradually improving. In addition, with the popularization of electric vehicles, the demand for electricity will increase, which may prompt Guyana to accelerate the development of its renewable energy projects, such as hydroelectric power and solar power, thus promoting the transformation of the energy structure of the entire country. Environmental benefits are another major driver for the development of Guyana’s electric vehicle industry. As a country rich in natural resources, Guyana is committed to protecting its ecosystem. The promotion of electric vehicles will help to reduce emissions and improve urban air quality, and is also in line with international initiatives to combat climate change. Although the development of Guyana’s electric vehicle industry faces many challenges, such as inadequate infrastructure, low consumer awareness, and high maintenance costs, the outlook for its development remains optimistic. As technology continues to advance and costs are further reduced, it is expected that electric vehicles will be more widely used in Guyana in the coming years. In conclusion, Guyana’s electric vehicle industry has made some progress despite its short history of development. Under the active promotion of the government and in conjunction with the trends in the international market, this industry is expected to become an important force driving Guyana’s economic transformation and sustainable development. With the implementation of more relevant policies and the maturity of the market, the future of electric vehicles in Guyana will be even brighter.

More and more consumers in Costa Rica are joining the ranks of electric vehicle use, realizing that reducing emissions is good for the environment. According to data from the Ministry of Environment and Energy (MINAE), in 2010 there were 233 electric vehicles in Costa Rica; as of June 2024, the number of electric vehicles has increased to 16,531 vehicles. The Costa Rican website adiariocr.com reports that cars make up the majority of all electric vehicles, followed by specialized motor vehicles, then motorcycles, and to a lesser extent light vehicles, pickups, buses and minibuses. The growth of the electric vehicle sector is also reflected in the import figures. The Association of Vehicle and Machinery Importers (AIVEMA) reports that in the first half of 2024, Costa Rica imported 6,739 electric vehicles; the number of electric vehicles imported in 2023 exceeds the total number of imports in the period between 2018 and 2022. From an economic point of view, electric vehicles have advantages over vehicles that use fossil fuels, reducing consumers’ daily expenses. In addition, in the long run, electric vehicles are maintained less frequently compared to fuel vehicles. Carlos Aguilar, head of the Association of Importers of Vehicles and Machinery (AIVM), said that 30 EV models were on display at the car show held at the ALESTE shopping center in Curridabat from July 5 to 7, 2024, for consumers who are still considering whether to buy an electric vehicle. In 2018, Costa Rica enacted the Electric Mobility Incentives and Promotion Act, which implements tax exemptions for the importation and sale of electric vehicles, however it has been abused by dealers. Congressman Gilbert Jiménez noted that some dealerships have exceeded 40% marketing margins. In an effort to ensure that EV consumers ultimately benefit from the tax credit, Jiménez has introduced a bill that would set a maximum marketing profit of 20 percent for EVs. If the bill is approved, dealers earning more than 20 percent of a vehicle’s value would be fined for failing to pay the tax correctly.

Despite the fact that Guatemala is vigorously promoting clean energy vehicles, data released by the relevant agencies show that sales of electric and hybrid vehicles are still not as good as they could be. What are the reasons? A recent article in the Guatemalan press analyzes the situation. More than a year after the law regulating the importation and sale of electric vehicles came into force (August 30, 2022), Guatemala’s transition to clean energy vehicles is still progressing very slowly. According to official data, in 2023, Guatemala’s vehicle fleet stood at approximately 5,184,000 vehicles, of which gasoline accounted for 4,500,000, diesel 567,000, electric vehicles 1,428, and hybrids 5,905. Among the electric vehicles, motorcycles accounted for the most at 883, private cars for 166 and buses and coaches for only 17. Expensive prices dissuade consumers Jean Pierre Devaux, president of the Association of New Vehicle Importers and Dealers, noted that a total of 146 electric vehicles were sold in 2023, an increase of 123 over 2022. By contrast, sales of hybrids increased even more: 1,509 hybrids were sold in 2023, compared to 1,004 last year, an increase of 505 units. Devaux believes that buying an electric or hybrid car has become a popular trend, and that the main factor preventing people from switching to hybrids or electric cars is cost, in addition to a lack of infrastructure, charging ports, and related knowledge. “Many people who are interested in purchasing these types of vehicles believe that they may face the dilemma of running out of power when they go on long trips.” Devaux said, explaining that this is rare because more than 94 percent of such vehicles are residential and are only driven in cities. At the same time, the Electric Vehicle Incentive Act partially banned the importation of used EVs and hybrids, thus reducing the supply in the market, so there are very few of these low-cost or commonly used commercially branded vehicles, which limits the public’s access to them. In addition, price is a decisive resistance for people to shift their purchasing goals to electric and hybrid vehicles. The average price of an electric vehicle is as high as $180,000, compared to about $100,000 for the same level of internal combustion vehicle, making the former almost twice as expensive as the latter. Similarly, hybrids are far more expensive than internal combustion vehicles. What do the officials say? Guatemala’s Minister of Energy and Mines (MEM), Manuel Eduardo Arita, said that they are already heavily campaigning on the incentives in the law as well as the benefits of using electric vehicles, which in addition to aiming to promote them, also aims to encourage people to increasingly invest in electric vehicles. Regarding the issue of high prices, Nancy Chacón, President of the Electric Vehicle Association (Amegua), argued that although electric vehicles are currently more expensive than traditional internal combustion vehicles, 100% electric vehicles save on operating costs: not only do they save on fuel costs, but they are also simpler to maintain due to the fact that there are fewer parts and they can save between 80% and 90% of the costs.