Potencia Industrial’s First Quantum E4s are Ready
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Potencia Industrial’s First Quantum E4s are Ready

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Sofía Garduño By Sofía Garduño | Journalist & Industry Analyst - Tue, 08/23/2022 - 14:03

The first EVs produced by Potencia Industrial and Quantum are ready, as reported by Mexico’s Minister of Foreign Affairs Marcelo Ebrard. The Quantum E4 aims to be the least expensive EV in the Mexican market. This vehicle offers over 100 km of autonomy and it can be charged in only four hours. The EV will be available in the market by 2023.

 

Two weeks after the announcement of the alliance between Quantum and Potencia Industrial, Ebrard visited the latter’s plant to see the first units produced by this collaboration. “Potencia Industrial SA de CV in Iztapala is the main Mexican producer of electric engines; it exports to all over the world. Good news: they are already producing utilitarian vehicles of 20 tons and also for passengers,” tweeted Ebrard.

 

These vehicles are only the latest efforts of Mexico’s government to promote electromobility. On Aug. 4, 2022, Ebrard visited Bolivia to strengthen diplomatic relations. One of Mexico’s main interests is to strengthen its relationship with Bolivia to develop the exploitation and use of lithium. Both countries aim to participate in lithium processing to produce EV batteries, as reported by MBN. Lithium, sometimes referred as white gold, has increased in demand as the global transition towards electromobility speeds up. The high demand of lithium is prompting intense competition among countries, including Mexico, to lead the exploitation and exploration of this resource.

 

Currently, there are over 20 million EVs circulating globally and they are expected to surpass the 26-million mark by the end of 2022. The sharply rising demand has caused lithium prices to increase by 438 percent this year and its market is currently valued at US$3.6 billion. Lithium demand is expected to be between three million to four million metric tons by 2030.

 

Latin America is the continent with the highest amount of lithium. The borders of Chile, Argentina and Bolivia, the lithium triangle, hold about 58 percent of the world’s lithium resources, as reported by the 2021 USGS Mineral Commodity Summary. Bolivia has the biggest lithium brine deposits in the Uyuni salt pan. Unlike Chile and Argentina, Bolivia controls this resource in a sovereign way and uses it according to its national interests. On July 7, 2022, Bolivia implemented the Supreme Decree Nº 4539, which aims to promote a policy that boosts electromobility through tax and financial incentives. 

 

“Quantum is a Bolivian company aligned with the purpose of its country to not be only a lithium producer, but an active player of lithium processing and battery generation. Bolivia has between 30-40 percent of the global lithium reserves,” said Ebrard.

Photo by:   pixabay , andreas160578

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