Santiago-based Enerlink provides charging infrastructure and management software for commercial electric vehicle fleets. It has set up 3,000 charging points in Chile, Colombia and Mexico. Its roster of more than 180 clients includes Walmart in Chile, energy company Colbún and long-distance bus operator Turbus.
The company has raised a $3.1 million funding round to support its expansion into Brazil. Chilean venture firm Kayyak Ventures and climate-focused Dalus Capital in Mexico led the round. Chilean family office Inder and VX Ventures also participated.
“Electrification is crucial for climate and public health in polluted cities, and offers significant cost savings for fleets,” Dalus Capital’s Gabriel Estrada told ImpactAlpha.
EV adoption
EVs in the US may be having a tough time in the face of tariffs and policy headwinds, but just about everywhere else in the world is buying in. EV adoption has more than doubled in Latin America nearly every year since 2020, starting at an estimated 17,500 vehicles and reaching about 445,000 by the end of 2024.
“EV adoption in Latin America is driven by public transportation, ride-hailing platforms, corporate net-zero goals, and national incentives,” said Estrada.
Chinese EV brands such as BYD, Geely and Great Wall Motors have introduced affordable electric and hybrid cars to the market. In Chile, Chinese brands now account for nearly 30% of new vehicle sales.
Infrastructure challenge
Needed: More charging infrastructure, which lags EV sales. More than 90% of installed charging stations are in Brazil, Mexico and Chile.
“We believe the benefits outweigh the risks; electric is the only long-term viable option,” Estrada said. “The charging infrastructure is catching up, with new operators entering the market and Enerlink boosting their efficiency.”
