Uruguay is among the most developed countries [1] in South America (2024 nominal GDP per capita: ~$23K; Chile ~$16.5K) with human development index of 0.83 (very high). Yet, the list price of new vehicles is easily 1.5x - 2x that in the US, and EVs are quite out of reach for most residents. (ex: Honda Civic HEV is listed for USD 55K [2])
By offering modestly priced EV retrofit kits, a market need is clearly being met.
- [1] https://en.wikipedia.org/wiki/Economy_of_Uruguay - [2] https://www.hondauruguay.com/civic-e-hev.html