VEMO to Invest MX$825 Million in Monterrey EV Infrastructure

Electric mobility company VEMO announced plans to invest MX$825 million (US$47 million) in Monterrey in 2026 to expand its electric mobility ecosystem across Nuevo Leon. The investment will focus on public charging infrastructure, electric vehicle financing programs, a specialized maintenance workshop and battery energy storage systems (BESS). The company identified Monterrey as a priority market due to its strong industrial base and rising demand for electrified transport solutions. 

The capital deployment will be organized around four operational pillars: financing solutions for mobility platform drivers, expansion of the public fast-charging network, the launch of a dedicated electric vehicle service center, and the integration of battery energy storage technology. The company said the objective is to synchronize fleet growth with infrastructure availability while strengthening operational and service capabilities. VEMO added that the strategy aims to develop an integrated electric mobility ecosystem rather than isolated infrastructure assets.

Financing and Fleet Deployment

Through its fintech arm, VEMO Impulso, the company plans to deploy at least 1,000 electric vehicles in Monterrey during 2026 using a lease-to-own financing model. The vehicles will target both light and premium categories, primarily serving drivers operating through digital mobility platforms.

The financing structure is designed to reduce upfront cost barriers and accelerate access to electric vehicles. According to the company, the program also supports financial inclusion by enabling drivers to acquire vehicles through structured payment plans.

“Monterrey represents a strategic market for scaling electric mobility. Through VEMO Impulso, we are expanding access to electric vehicles with a broader portfolio so that more drivers can participate under financing structures tailored to their operations,” said Aaron Sáenz, director, VEMO Impulso.

The company noted that demand among platform drivers has grown as the total cost of ownership of electric vehicles becomes increasingly competitive compared to combustion vehicles. However, access to financing remains a key factor in accelerating adoption.

At the same time, VEMO will expand its public charging infrastructure across the Monterrey metropolitan area. The company entered Nuevo León in 2024 with five charging sites developed in partnership with Tecnológico de Monterrey and Hospital Zambrano Hellion. Those installations marked the initial stage of the company’s regional expansion strategy.

The new investment will significantly expand that presence. VEMO is currently developing four charging hubs equipped with 60 fast chargers, representing 7.2MW of installed capacity. The facilities are expected to support up to 120 simultaneous charging sessions and are scheduled to begin operations during 2026.

In addition, the company plans to install 270 additional charging points, with deployment extending between 2026 and early 2027. The network expansion is designed to support both private electric fleets and individual EV users.

“Monterrey is a strategic commitment for us. A robust and reliable public charging network is a key enabler for accelerating electric vehicle adoption,” said Carlos Levy, director, VEMO Charging Network.

The company emphasized that network reliability and geographic coverage will be critical to sustaining user confidence in electric mobility. Infrastructure deployment will focus on high-density urban areas and key transportation corridors.

Infrastructure, Policy and Market Context

As part of its local expansion strategy, VEMO will also launch a specialized electric vehicle maintenance workshop in Nuevo León. The facility will cover 1,800 square meters and will have the capacity to service up to 1,500 vehicles per month. According to the company, the workshop will be certified by multiple automakers.

The facility is intended to reduce maintenance downtime and strengthen after-sales support as electric fleet volumes grow.

Charging hubs will also incorporate battery energy storage systems (BESS) designed to manage peak electricity demand and ensure operational continuity. VEMO said integrating energy storage technology will optimize power usage and improve resilience at charging sites, particularly in high-demand areas where grid capacity may become constrained.

At the corporate level, VEMO projects the deployment of approximately 23,000 charging connectors across its public and private networks by 2030. Over the same period, the company aims to scale its ecosystem to approximately 55,000 electric vehicles.

To date, the company has raised more than US$500 million , including US$350 million in equity financing and US$150 million in debt. Investors include Vision Ridge Partners, Riverstone Holdings, Orion Infrastructure Capital, BEEL Infrastructure Partners, PROMECAP, Covalto and Kapital.

The Monterrey investment aligns with a broader US$1.5 billion investment plan for Mexico and Latin America over the next five years. The strategy comes as the Mexican electric mobility market transitions from rapid expansion toward a more consolidated phase.

According to Bloomberg Línea policy discussions around potential tariff increases on Chinese imports could alter electric vehicle cost structures. Executives noted that many vehicles priced below US$20,000 rely heavily on Chinese supply chains.

“If market conditions were to change drastically, we would need to reassess the possibility of expanding into other geographic markets in the region,” said Germán Losada, co-founder and president, VEMO.

Despite potential regulatory shifts, the company reaffirmed its long-term commitment to the Mexican market. Its investment strategy focuses on scaling infrastructure, integrating operations and deploying capital in a disciplined manner.

Industry data supports the timing of the expansion. According to the Electro Movilidad Asociación, sales of electric and plug-in hybrid vehicles increased 38.5% year over year in 2025, while Mexico’s charging network reached 56,726 charging points, representing a 26% annual increase.

VEMO reports that vehicles operating within its platform have collectively traveled more than 235 million electric kilometers and completed over 25 million trips, avoiding more than 40,000 metric tons of CO₂e emissions.