Havana's roads change as Cubans adopt electric bikes and vehicles
Adds statistic on vehicle imports from the US, paragraph 17
By Alien Fernandez
HAVANA, July 18 (Reuters) -Havana is famed for the colorful vintage cars that can still be seen puttering around its streets and are a popular subject for visitors' photographs.
But these days, Cubans are just as likely to be found getting around quickly and quietly on electric scooters made with Chinese parts.
"Electric motorcycles are solving a lot of problems in Cuba, they are already used for almost everything," explains Omar Cortina, a Cuban hotel worker who recently purchased his first electric vehicle - a lime-green scooter powered by a lithium battery.
Until recently, Cuba's roads had changed little in the six decades since former leader Fidel Castro's 1959 revolution: the old cars puffing sooty exhaust, rutted pavement, light traffic.
Now, electric vehicles are proving a godsend for many in the communist-run nation.
Between 2020 and 2022, the last year for which figures are available, Cuba-based companies produced more than 23,000 electric vehicles, according to official data. Since then, demand has grown, alongside an economic crisis that has slashed both fuel supply and public transportation.
Fuel for combustion-powered engines has for years been scarce in Cuba - prompting hours-long or sometimes days-long queues. And a five-fold price hike earlier this year means a typical 40-liter tank of gas costs more than a state-worker's average monthly wage, far out of reach for most.
Public transportation is hardly more palatable.
Buses in the Havana area are far fewer - and more crowded and uncomfortable - than in previous years. And half the routes to points outside the capital have been eliminated this year, according to state-run media, as fuel and spare parts dwindle.
Those dire circumstances have helped drive demand for the products of newly formed companies like Caribbean Electric Vehicles (Vedca), said company director Julio Oscar Perez.
The firm, a joint venture between Chinese investor Tianjin Dongxing Industrial and Cuban state bicycle manufacturer Minerva, has produced more than 2,000 scooters, bikes and mini-tricycle trucks in Cuba with Chinese parts.
"I think we're reaching a tipping point," Perez said in an interview.
"That is, not just seeing (electric vehicles) as an alternative to mobility, but also (solving) other problems that exist because of fuel limitations."
On a recent weekday visit to the company's plant outside Havana, some of Vedca's 64 employees assembled plastic parts, soldered wires, and tightened bolts in an orderly assembly line, while others greeted customers arriving for pick-up.
The company, Perez said, has also begun testing a new electric tractor and experimenting with other electric-powered heavy machinery.
Other small domestic companies sell electric bikes, ranging from makeshift to upscale. And the government recently authorized imports of far pricier electric vehicles.
Imports of automobiles from the neighboring United States have soared to $24.6 million thus far in 2024, according to the U.S.-Cuba Trade and Economic Council, with a growing class of new business owners attracted to more luxurious electric and hybrid options, including Teslas TSLA.O.
Those who can afford such perks are still few, however.
For Cortina, just being able to get back and forth from work is enough of a selling-point.
"In a few years, all transportation will be electric," he predicted before zooming off on his new purchase.
Reporting by Alien Fernandez, additional reporting by Carlos Carrillo and Anett Rios, editing by Dave Sherwood and Rosalba O'Brien
Asset collegati
Ultime news
Disclaimer: le entità di XM Group forniscono servizi di sola esecuzione e accesso al nostro servizio di trading online, che permette all'individuo di visualizzare e/o utilizzare i contenuti disponibili sul sito o attraverso di esso; non ha il proposito di modificare o espandere le proprie funzioni, né le modifica o espande. L'accesso e l'utilizzo sono sempre soggetti a: (i) Termini e condizioni; (ii) Avvertenza sui rischi e (iii) Disclaimer completo. Tali contenuti sono perciò forniti a scopo puramente informativo. Nello specifico, ti preghiamo di considerare che i contenuti del nostro servizio di trading online non rappresentano un sollecito né un'offerta ad operare sui mercati finanziari. Il trading su qualsiasi mercato finanziario comporta un notevole livello di rischio per il tuo capitale.
Tutto il materiale pubblicato sul nostro servizio di trading online è unicamente a scopo educativo e informativo, e non contiene (e non dovrebbe essere considerato come contenente) consigli e raccomandazioni di carattere finanziario, di trading o fiscale, né informazioni riguardanti i nostri prezzi di trading, offerte o solleciti riguardanti transazioni che possano coinvolgere strumenti finanziari, oppure promozioni finanziarie da te non richieste.
Tutti i contenuti di terze parti, oltre ai contenuti offerti da XM, siano essi opinioni, news, ricerca, analisi, prezzi, altre informazioni o link a siti di terzi presenti su questo sito, sono forniti "così com'è", e vanno considerati come commenti generali sui mercati; per questo motivo, non possono essere visti come consigli di investimento. Dato che tutti i contenuti sono intesi come ricerche di investimento, devi considerare e accettare che non sono stati preparati né creati seguendo i requisiti normativi pensati per promuovere l'indipendenza delle ricerche di investimento; per questo motivo, questi contenuti devono essere considerati come comunicazioni di marketing in base alle leggi e normative vigenti. Assicurati di avere letto e compreso pienamente la nostra Notifica sulla ricerca di investimento non indipendente e la nostra Informativa sul rischio riguardante le informazioni sopra citate; tali documenti sono consultabili qui.
