BBVA Mexico is allocating an average of MX$578 million (around US$31 million) per month to finance hybrid and electric vehicles. As of May 2025, this represents a 47% increase compared to the previous year, with green vehicle loans now comprising 15% of the bank’s total automotive portfolio.

The initiative is closely tied to BBVA’s partnership with Chinese automaker Omoda Jaecoo, supporting the launch of the Jaecoo 7 plug-in hybrid (PHEV). Since the collaboration began in May 2023, BBVA has financed 8,565 units—including 1,233 in 2025, 5,469 in 2024, and 1,863 in 2023—covering 68% of the brand’s vehicle sales in Mexico.

Pablo Sadek González, head of Automotive Banking, BBVA Mexico, called the partnership a strategic move to increase access to sustainable mobility solutions. The bank offers green auto loans starting at 9.99% interest with zero origination fees.

Recent data backs BBVA’s optimism about the sector. According to BBVA Research, foreign direct investment in Mexico’s automotive industry rose by 35.1% in 2024, reaching US$9.9 billion, with most funding directed at vehicle manufacturing. Meanwhile, hybrid vehicle sales climbed to over 120,000 units, a 67.3% surge from 2023.

Looking ahead, BBVA plans to expand its green financing offerings through partnerships with other Chinese manufacturers, including Geely, Great Wall Motor, and Neta Auto.