GXED(SH:600617) Xin Hua She·2026-01-06 02:31Core Insights - By 2025, one in three passenger cars sold in Uruguay will be a Chinese electric vehicle (EV), indicating a significant market penetration of Chinese brands in the region [1] - The total vehicle sales in Uruguay are projected to reach 71,442 units in 2025, reflecting an approximate 8% increase from 2024, largely driven by the surge in EV sales from brands like BYD, Dongfeng, and others [1] - The Uruguayan government has implemented various incentives for EVs, including tax exemptions and the establishment of charging infrastructure, which are crucial for the growth of the EV market [1][2] Industry Trends - Over 97% of Uruguay's electricity comes from renewable sources, providing an excellent environment for promoting EVs [2] - The lower operating costs of EVs are attracting more consumers; for instance, a ride-hailing driver reported a monthly fuel cost reduction from 14,000 Uruguayan pesos (approximately $350) for gasoline vehicles to just 4,000 pesos (about $100) for EVs [2] - Currently, EVs account for about 1.5% of the total vehicles on the road in Uruguay, indicating substantial growth potential in the future [2]