Mexico has established itself as the primary exporter of electric vehicles (EVs) to the United States, surpassing Japan, South Korea, and Germany. In 2024, Mexico shipped 145,000 units, according to the third Mexico Mobility Report by EvolvX, prepared by Latam Mobility.

This achievement is attributed to a significant increase in foreign direct investment (FDI) in the country and the strength of the domestic automotive value chain, which allowed Mexico to triple its EV exports to the United States from 2023 to 2024.

Rebeca González, co-founder of Latam Mobility, highlighted that Mexico not only doubled its EV production in 2024, reaching 220,000 units, but also became a key partner in North America's clean mobility supply chain, benefiting from its strategic location, skilled workforce, and trade agreements such as the USMCA.

Key brands exporting from Mexico include General Motors (Chevrolet Blazer EV, Equinox EV, Cadillac Optiq), Ford (Mustang Mach-E), Stellantis (Wagoneer S), and Toyota (hybrid Tacoma).

According to data from the National Institute of Statistics and Geography (Inegi), the production of electric and hybrid cars in Mexico totaled 214,203 units up to September, representing a 39.3% increase compared to the same period in the previous year (2023). Despite a 7% decline in EV production in the United States in 2024, regional production remained stable thanks to the doubling of production in Mexico, according to the International Energy Agency (IEA).

The United States remained a net importer of EVs in 2024, with exports down almost 15% (fewer than 200,000 units) and imports up 40% (to 630,000 units). Mexico positioned itself as the largest EV trading partner of the United States, with net exports of 145,000 vehicles. Imports from Mexico tripled compared to 2023, driven primarily by US original equipment manufacturers (OEMs) (70% of Mexican exports to the US) and Japanese OEMs (20%).

Japan and South Korea, previously the largest exporters to the United States, recorded net exports of approximately 135,000 vehicles each in 2024. The European Union, while being the main source of gross imports, ranked fourth in net exports to the United States with approximately 110,000 vehicles.

Latam Mobility also highlighted Mexico's leadership in Latin America, where over 80% of the electric vehicle market was concentrated in Brazil, Mexico, and Colombia in 2024, with Mexico leading hybrid electric vehicle (HEV) sales.