Mexico is Producing Its Own Budget EV

Last week, Mexican President Claudia Sheinbaum shared more details about her initiative to manufacture an electric vehicle (EV) entirely designed and assembled in Mexico. The new electric car will be called "Olinia."

"Mexicans have creativity, determination, and ample capacity. That’s why we are producing Olinia, a 100% electric and affordable car designed by young people and assembled in our country," - said Sheinbaum.

During an October 15 press conference, Sheinbaum identified Sonora as a potential location for producing "Olinia." The state's low electricity costs and expanding clean energy sector make it an appealing option for manufacturing.

Through the Olinia project, Mexico aims to establish itself in the growing global EV market while offering its citizens a locally-produced and budget-friendly option.