The Ministry of Economy and Finance of Peru (MEF) has announced a public-private investment of approximately $46 billion over the next 15 months, which includes the transport sector.
However, the available information does not mention any specific projects related to electromobility.
This situation is concerning for industry stakeholders, as they told Mobility Portal Latin America. While neighbouring countries like Chile and Colombia are advancing with incentives to promote the transition to electric mobility, Peru’s investments remain focused on road infrastructure and traditional transport systems.
Currently, two key topics highlight the government’s approach:
• The tender for 150 articulated 18-metre buses for the expansion of Lima’s Metropolitano trunk routes, with an estimated investment of 250 million Peruvian soles.
• The management of contracts and implementation of electric buses to ensure the continuity of public transport.
However, industry sources claim that there are no concrete details on these projects yet.
It is worth noting that these buses are expected to be awarded in July 2025, with an estimated manufacturing and delivery time of nine months, meaning they could enter operation by early 2026.
Despite this, there is still no public information about the tendering process.
E-Mobility Law: No Progress and No Real Incentives
While the private sector has shown strong interest in electric mobility, the government’s approach remains discouraging.
Alberto Morisaki, Economic Studies Manager at the Peruvian Automotive Association (AAP), states that legislative efforts to promote e-mobility remain stalled.
“If the government wants to introduce incentives to boost e-mobility, it can do so; but it is a political decision,” warns Morisaki.
Without political will at the highest levels, Peru continues to lag behind the region.
Although several bills aimed at promoting electric mobility have been introduced in the past, none have advanced far enough to become effective policies.
Peru: An “E-Mobility Hub” Without an Industry?
Despite government claims about turning Peru into an e-mobility hub, Morisaki questions the feasibility of this ambition.
“They tell us we will become an e-mobility hub, but we have no industry, we don’t manufacture batteries, and we don’t produce components,” he argues.
He also highlights that political instability is a major factor deterring investment in electric mobility.
“If you don’t know who will be president in six months, who would want to invest in such a country?” Morisaki reflects.
The lack of long-term planning and a clear regulatory framework leaves Peru without a solid strategy to attract manufacturers or develop a local industry that could drive the energy transition.
E-Mobility Market in Peru: A Slow Transition
According to AAP data, 1,247 hybrid and electric vehicles were registered in Peru during the first two months of the year.
The most popular technology is hybrid electric vehicles, accounting for 45.3% of total sales, followed by mild hybrids (43.5%).
In smaller proportions, battery electric vehicles (BEVs) and plug-in hybrids (PHEVs) reached 7.2% and 3.9%, respectively.
AAP forecasts that sales of pure electric vehicles (BEVs) could grow by over 100% year-on-year, provided that market conditions and supply continue to expand.
Peru has potential to join the electric mobility value chain, but it lacks the necessary conditions to do so.
