Buenos Aires launches $28 million credit line for electric taxis

Buenos Aires is rolling out a new financing program to encourage taxi drivers to switch to electric vehicles. Announced on August 13, the initiative offers loans of up to $28 million pesos with a fixed 20% interest rate, described as the lowest on the market by Banco Ciudad.

This measure is part of a broader push by the city government to modernize public and private transport through electrification. Other ongoing projects include the Trambús T1, set to launch by year's end, and an existing electric minibus program.

Jorge Macri, the Head of Government of Buenos Aires, highlighted the benefits for drivers, noting that the operational savings from electric taxis can cover loan payments. He stated that some drivers are even upgrading to premium vehicles after selling their old taxis at good prices.

Electric taxis offer substantial savings, with operating costs reportedly at 20% of gasoline or natural gas vehicles. Maintenance is also reduced due to fewer moving parts in electric motors compared to combustion engines. The vehicles can travel 380-400 kilometers on a single charge, exceeding the typical daily mileage of around 220 kilometers.

Beyond the loan, electric taxi owners receive additional benefits, including permanent 100% exemption from patent taxes. Hybrid vehicles also receive significant patent tax reductions over their first six years. The city aims for 30% of its bus fleet to run on clean energy by 2027.

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Los taxistas lo valoran: tienen un ahorro importante que les permite pagar la cuota sin costo y algunos todavía mejor, porque vendieron su anterior taxi a buen precio y empezaron a manejar un auto de categoría premium.