VEMO to Invest US$1.5 Billion in Mexico EV Expansion

VEMO said it will invest more than US$1.5 billion over the next five years to expand electric vehicle charging infrastructure and scale its operations, as Mexico’s electric mobility market shifts from rapid expansion to consolidation. The company plans to deploy approximately 23,000 connectors across its public and private charging network by 2030 and add about 55,000 electric vehicles to its fleet. The strategy aligns with a market that posted a 38.5% annual increase in electric and plug-in hybrid vehicle sales in 2025, according to industry data.

The investment program comes as the Mexican electric mobility sector enters what industry participants describe as a new phase. After several years of sustained growth, 2024 served as a prelude to accelerated expansion, and 2025 marked a year of broad-based market growth. For 2026, companies anticipate a consolidation stage in which electric vehicles (EVs) transition from early adoption to more routine integration into everyday mobility.

“Looking toward the end of the decade, the challenge is no longer only to expand the market, but to do so with a long-term vision. The objective is to consolidate steady, profitable and scalable development for the entire region, where planning, regulation and investment will play a decisive role,” said Constantino Rodríguez, Commercial Director, VEMO.

The US$1.5 billion investment plan focuses primarily on accelerating infrastructure deployment, expanding operations and strengthening the electric mobility ecosystem in Mexico and Latin America. VEMO said execution of these targets will depend on coordination with strategic partners and financial institutions. The company has raised more than US$500 million to date from investors including Vision Ridge Partners, Riverstone Holdings, Orion Infrastructure Capital, BEEL Infrastructure Partners, PROMECAP, Covalto and Kapital. In September 2025, the company announced a US$250 million investment commitment led by Vision Ridge Partners.

Market data from the Electro Movilidad Asociación (EMA) show that the sector maintained momentum through 2025. According to EMA figures, sales of electric and plug-in hybrid vehicles grew 38.5% year over year by the end of 2025. Over the same period, the national charging network expanded to 56,726 charging points, representing a 26% annual increase.

These figures indicate that infrastructure growth has continued alongside vehicle adoption. Industry participants identify charging availability as a central factor in sustaining further increases in the electric vehicle fleet. As EV penetration rises, alignment between vehicle deployment and charging capacity becomes critical to avoid bottlenecks and maintain user confidence.

“From field operations, VEMO has directly witnessed the relevance of charging infrastructure within the clean mobility ecosystem. The growth of the vehicle fleet must be synchronized with charger availability; therefore, the development of charging stations designed to meet growing and more diverse demand is essential,” Rodríguez said.

In 2025, VEMO launched what it described as its largest public charging hub in Mexico. The site is equipped with 102 connectors and has an installed capacity of 6.2 megawatts (MW). The company said the project sets a new benchmark for urban charging infrastructure in the country.

As of the latest reporting period, the VEMO Charging Network includes more than 1,400 connectors distributed across 18 Mexican states and processes more than 85,000 charging sessions per month. The company said this positions it as the country’s largest public charging network in terms of operational scale.

Operational data released by VEMO indicate cumulative usage growth. To date, vehicles operating within its ecosystem have traveled more than 235 million electric kilometers and completed more than 25 million trips through mobility applications. The company estimates it has helped mitigate more than 40,000 metric tons of carbon dioxide equivalent (CO₂e), an environmental impact it compares to the carbon captured by approximately 1.9 million trees.