7 Dec 22

Mobility players teaming up to electrify Latin America

The transition to electric vehicles (EVs) in Latin America is being made easier with the help of Mexico City based mobility solutions startup VEMO and its partnerships with multinationals such as BYD (China), Uber (USA), and ALD Automotive (France).

Besides a recent announcement by VEMO to help vehicle leasing and mobility company ALD Automotive make the transition to full-service leasing EVs in Mexico by providing consultation and other services in the country, VEMO has partnered up with EV manufacturer BYD, and ride-hail company Uber in 2022.

In the first quarter of the year, VEMO supported Uber in its plan to increase its EV fleet in Mexico by 250 units under its “Uber Planet” program.

Besides, cutting 5,000t of CO2 emissions every year, it will help the ride-hail giant achieve its goal to be a zero-emission platform worldwide by 2040. To stimulate the use of EVs, the “Uber Planet” program is being offered in Mexico, Colombia, Ecuador, and Costa Rica.

Meanwhile, VEMO has also ordered 1,000 EVs from BYD, being its D1 electric car which was developed by BYD along with Chinese ride-hail company Didi Chuxing, a stiff competitor of Uber in Latin America which is operating under the name of 99.

While 99 led Uber in Mexico (second largest market in Latam) with a 56% market share in 1Q22, Uber led 99 in Brazil (largest market in Latam) with a 65% market share during the quarter.    

According to the Chinese manufacturer, the 1,000 D1s will be the largest electric taxi fleet operating outside China and 200 were already on streets in the first semester of the year.

Known as BYD’s Blade Battery, the D1 uses LFP batteries without cobalt, nickel and manganese which boasts an NEDC range of up to 418 kilometers. The D1 is very similar to the Volkswagen ID.3 except that it has a sliding door to facilitate passenger entry and exit. 

2022 BYD D1 (courtesy of BYD)

Vemo was founded in 2021 by Affiliates of Riverstone Holdings LLC (“Riverstone”), a private equity firm “investing in opportunities in long-term decarbonization secular trends in energy transition, power, and infrastructure. 

For more insight on fleet management in Latin America, meet with Fleet LatAm and other participants during the next Business Networking Group meeting , taking place next week Tuesday (13 December) online. Register now, for free.


Authored by: Daniel Bland