EV Sales Skyrocket in Latin America, But Tesla isn’t Doing Well
Electric vehicle sales across Latin America are surging as Chinese automakers flood markets with affordable models and outcompete EV pioneer Tesla. Peru saw sales jump 44 percent year-over-year through September, reaching over 7,200 units; Chile hit 10.6 percent market share in September and Uruguay reached 28 percent in the third quarter. Brazil saw 9.4 percent penetration in August. Chinese brands have now captured nearly 30 percent of Chile's passenger car sales and 22 percent in Uruguay. Tesla lacks an official presence in South America despite expressing early interest in expanding into the region. In 2019, Peruvian entrepreneur Luis Zwiebach wanted…