JAMAICANS apprehensive about electric vehicles (EVs) being predominantly Chinese-manufactured are about to get more options.

While China is currently leading the world as the largest manufacturer of EVs, more car brands are now electrifying their fleets — which could warm Jamaicans up to the idea of purchasing an EV and tip the scales in the growth of the EV market locally.

“The Chinese have done a hell of a good job where electric vehicles are concerned. The BYD are proven vehicles; they are in Europe, they are in Australia, and they’re in Africa. I understand the comfort that they [Jamaicans] have with Toyota and Honda but if you recognise, Toyota has over 15 new lines of vehicles to come out soon so 2024 is going to be the year when all of the major manufacturers come out with booming electric vehicles that will compete with the Chinese,” revealed Wayne McKenzie, president and CEO of Evergo, while speaking with the Jamaica Observer at an EV link-up event for World EV Day.

The EV revolution of 2024 will see more local car dealers, like ATL, add EV lines for Audi, BMW and BYD.

“Kia is going to be coming in soon and Honda soon, so they themselves are going to be probably a force to be reckoned with where EVs are concerned,” McKenzie told the Business Observer. He added that Stewart’s Auto and Jetcon Cars are also on the market to bring in more electric vehicles.

With more car brands offering EV options, McKenzie believes the EV market locally is set to expand.

“If you look at five years prior, you will see that the growth in the procurement of electric vehicles is a phenomenon. You’re looking at numbers; zero against a hundred is a small number but if you’re at a hundred and you see zero, then 20, then 40, and 80, then that’s the growth that you need to focus on,” he added.

According to the World Economic Forum, global sales of electric cars increased by around 60 per cent in 2022. In China, one in every four cars bought in 2022 was an EV; in the European Union, one in five; and in the United States, nearly one in 10 cars purchased last year was an EV.

“When we launched Evergo 2019 we didn’t have any full electric vehicles [but] if you count today, there are over 20 vehicles here, just here. What we’ve realised is that between 2019 — when the country had about 25 full EVs — and now, we have 250 EVs,” McKenzie said while pointing to the EVs on display at Hope Gardens in St Andrew on Saturday evening.

EV sales locally remain small but McKenzie is optimistic this will continue to grow as the trend in other markets has reflected an increase in sales.

“If you look in California, there are more EVs being built now than ICE [internal combustion engine], so it’s just a matter of time. In 2030, with concessions and incentives and climate change as an agenda subject, you’re going to see that happening,” he said assertively.

In California 223,298 EV units were sold in the first half of the year, according to InsideEVS.com. The spike in EV sales was mainly due to the California Electric Car Rebate (CVRP), which has been established to promote clean vehicles in the state of California by offering rebates of between US$1,000 and US$7,000 to drivers who purchase or lease zero-emission vehicles that meet CVRP requirements. So far, the Government of Jamaica has announced reduced import duty on EVs, moving it from 30 per cent to 10 per cent for a five-year period to encourage Jamaicans to make the switch.

“There are no tailpipes, there’s no greenhouse gas to emit, so the more EVs that replace ICE, the better it is for our climate — so that itself is part of the greening process. We have a responsibility to our environment, not just for our children but for our children’s children,” he said.

However, uncertainty still lingers about the accessibility of enough charging ports across the island to facilitate EV drivers. To facilitate growth in EVs, Evergo aims to roll out 300 charging stations; there are currently 58 charging ports.

“We’re putting in 13 this year and another 20 next year so 69 plus 94 — yeah, we’re getting there. It doesn’t make sense for us to put down all 300 right now, especially with us encouraging users to go with those,” he revealed.

Even with the additional brands entering the EV market the cons still remain, one of which is concern about the resale value of these vehicles. EV battery life is critical when it comes to resale value, and the cost of replacing a battery can significantly impact this transaction.

“It depends on when you sell back that car. I can tell you battery prices go down ever so often, so I might buy a car and the price is say $8 million and the battery is say $2 million dollars; in another 10 years that same battery is going to be for $500 thousand — so look, you get a battery replacement as an engine replacement,” McKenzie explained to the Business Observer.

The other con is its price point. Electric cars are costly, and because of growing demand, even used models sell at a premium. McKenzie is, however, confident that the prices will fall once EVs permeate the market and less-expensive models come on stream.

“Until the KIAs and those guys come on, comparing the Nissan Leaf and BYDs — this is a fast-selling car — you’re going to see more of them.”