The study assesses opportunities to boost EV adoption in LMICs by managing used EV imports and retrofitting older ICE vehicles. With rising motorization and growing emissions, the project explores cost-effective strategies to address financial and infrastructure challenges limiting EV uptake in these regions.

Objective

With rising motorization and emissions in LMICs, this study explores strategies to increase EV adoption by assessing the potential for importing used EVs and retrofitting existing ICE vehicles. It addresses key barriers such as high upfront costs, limited infrastructure, and policy gaps.

Our Approach

Market Research

Assessed global and LMIC passenger car stock and sales trends, covering both used and new vehicles, and evaluated the imports of used internal combustion engine vehicles (ICEVs) in LMICs

Project Development

Analyzed global and LMIC commercial vehicle sales trends and reviewed historical data on used passenger vehicle flows. Conducted cross-regional case studies to identify key drivers of used EV imports and necessary measures for improvement

Green Credit Financing

Compiled recommendations to improve the quality of used EVs and assessed the retrofit market for converting ICEVs to EVs

Stakeholder

Evaluated case studies of retrofitted EVs to identify key challenges and solutions. Compiled recommendations to accelerate the adoption of retrofitted EVs

Outcome