Why Mexico Built an $8,500 Electric Car

The EV market in Mexico has exploded in the last three years, with the vast majority of cars sold there being manufactured in China— 90 percent in 2025 . However, Mexico is one of the world’s biggest manufacturers of cars and car parts, and policymakers want to capture a piece of the action. That’s why the Mexican government launched Olinia, a federally backed effort to develop a homegrown EV…