A STEP FORWARD FOR SUSTAINABLE MOBILITY IN COSTA RICA
CENIT visited San José in Costa Rica last month to deliver the key outcomes from our consultancy focused on the electrification of Costa Rica’s San José Metropolitan Area (SJMA) public transport.
Costa Rica has set ambitious climate goals aimed at decarbonizing its economy, with the transport sector responsible for 50% of the country’s total CO2 emissions. The objective is to have 30% of the nation’s buses operating as zero-emission vehicles by 2030, eventually reaching 85% by 2050.
This project was carried out in collaboration with the World Bank, the Ministry of Transport and Public Works (MOTP), and the Public Transport Council (CTP), in close partnership with HINICIO and local consultants.
The consultancy encompassed a number of studies including market surveys, an examination of market potential, and market readiness for electric buses, as well as an assessment of potential regulations for retrofitting, technical discussions leadership with counterparts in electric mobility, and an in-depth analysis of the commercial and financial model for electric buses in the AMSJ.
CENIT’s main focus in the consultancy was the development of the financial model. Business models within the electric vehicle ecosystem continue to undergo evolution. Concerning electric vehicles, these models vary from full ownership to vehicle and battery aggregation versus disaggregation, lease agreements, green bonds, operational leasing, financial leasing, battery-only rental, and more. The electric bus (e-bus) ecosystem is characterized by two prominent aspects: (i) technological uncertainty with ongoing innovations in vehicle design, battery efficiency, charging systems, and more; and (ii) high initial costs, as well as the total cost of ownership (TCO). Therefore, the expansion of electric mobility necessitates a comprehensive understanding of the rapidly evolving interplay between these factors.
Thanks to this consultancy, Costa Rica is making substantial strides towards expanding e-mobility in the SJMA.