Electric Bus Revolution: Marcopolo’S $4 Million Gambit In Latin America
Date
12/24/2024 3:20:51 PM
(MENAFN- The Rio Times) Brazilian bus manufacturer Marcopolo has acquired a 40% stake in Chilean innovator Reborn Electric Motors for $4 million. This strategic investment aims to capture a significant share of Latin America's growing electric bus market.
Reborn, founded in 2019, has already made headlines by producing the first electric bus to operate in Antarctica. This achievement aligns with Marcopolo 's goal to lead in sustainable transport solutions across the continent.
The timing is opportune. Latin America's electric bus market is projected to grow by 15% annually until 2025. Currently, 5,900 electric buses operate in 41 cities across the region, with Chile leading at 2,659 units.
Marcopolo's strong financials support this move. In Q3 2024, the company reported a net profit of R$335.7 million ($54 million), a 107.6% year-over-year increase.
Their EBITDA reached R$466.0 million ($75 million), showing robust operational performance. This partnership positions Marcopolo to compete with established players like BYD , Foton, and Yutong in Latin America.
By combining Marcopolo's manufacturing prowess with Reborn's innovative technology, the duo aims to accelerate eco-friendly public transportation adoption across the continent.
As Latin American cities prioritize reducing emissions and improving air quality, Marcopolo's investment in Reborn could prove crucial. This move not only promises financial returns but also contributes to a cleaner, more sustainable future for urban transportation in the region.
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