Autolarte – Moevo celebrates 75 years with electric vehicle investment

Autolarte – Moevo marks its 75 years in Colombia's automotive sector with a projected investment of nearly 7 billion pesos in its electric vehicle portfolio. The company, featuring brands like BYD, Hyundai, and Farizon, aims to expand its footprint through new openings and acquisitions in key areas. This initiative aligns with record-high sales of electric and hybrid vehicles in the country.

Autolarte – Moevo, a company with 75 years of history in Colombia's automotive market, announces an investment of approximately 7 billion pesos aimed at developing its electric vehicle offerings. This comes amid record sales for electric and hybrid cars, where the firm positioned itself early by adding brands like BYD, Hyundai, and Farizon to its lineup.

Key planned actions include opening BYD Linares in Rionegro and establishing two new service workshops in Medellín and Rionegro to enhance technical support for electric mobility. Since January 1, the group acquired the operations of the Hyundai Guayabal dealership in Medellín, broadening its reach in the city. It also launched a specialized Chevrolet point for electric and hybrid vehicles in Viva Envigado.

The company is progressing with renovations at its southern headquarters, featuring a remodel of the Chevrolet showroom and new displays for Hyundai and Farizon. These steps intend to strengthen customer service and adapt to automotive market trends in Colombia, ensuring ongoing relevance in a fluctuating industry.

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China's BYD, the world's largest electric vehicle seller, is considering an entry into Formula 1 as its first major push into elite auto racing. The automaker is evaluating options such as acquiring an existing team or building one from scratch, amid the sport's shift toward hybrid engines. No final decision has been made, with costs potentially reaching $500 million per season posing a significant barrier.

President Gustavo Petro attributed the 171.3% increase in electric vehicle sales in the first quarter of 2026 to his gasoline vehicle tariff policy. In an X post, he hailed the outcome as progress in decarbonization and relief for air pollution-related mortality in cities like Bogotá and Medellín.

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Leopoldo Satrústegui, president of Hyundai Spain, has called the ‘made in Europe’ requirement in the new Auto+ electric vehicle subsidy plan a mistake. He argues subsidies should be equal for all models and criticizes the price and battery criteria. He also announces the launch of premium brand Genesis in the Spanish market this year.

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Early data shows Tesla's Model Y driving a strong recovery in electric vehicle sales across Australia in February 2026, following a sluggish January. Combined sales for Tesla and Polestar reached 3,419 units, with year-to-date figures up 61% from 2025. The Model Y accounted for 2,791 of those sales, positioning it as the top seller for the month.

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Chinese electric vehicle maker BYD has surpassed Tesla to become the world's leading EV seller, with hundreds of thousands more vehicles sold last year. The shift highlights BYD's advantages in pricing, battery technology, and diverse models, while Tesla faces challenges from policy changes and reputational issues. This marks a significant change in the global auto industry.

 

 

 

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