China Supplies Nearly Half of Brazil’s Electric Cars in 2023
Brazil imported 47.1% of its electric cars from January to August from China and bought 3,367 electric vehicles from this country, spending US$59.73 million.
According to the Ministry of Development, Brazil bought in total 7,152 electric cars this year. This shopping spree cost Brazil US$207.85 million.
Gas-powered cars still rule Brazil’s roads in 2023, with a 75.1% market share. Electric cars hold just a 4.75% share.
Among the top six countries selling cars to Brazil, only 3.4% are electric.
Brazil’s electric car market is young. The country started importing them in 2017. Half came from China, while France and the U.S. sent 22 and 3 cars, respectively.
In 2019, Brazil set a record by importing 27,024 electric cars. China supplied 16,879 of these, or 62.46%.
According to the National Motor Vehicle Manufacturers Association, Brazil already makes electric trucks and buses.
Many expect Brazil to produce electric cars soon.
On July 4, Chinese car maker BYD announced a US$3 billion investment in Bahia. This project will create 5,000 jobs.
BYD is a leading global maker of electric vehicles. In Bahia, BYD plans to make electric and hybrid vehicles.
The company will also produce electric bus and truck chassis.
Background
China’s role as a key supplier of electric cars to Brazil shows its expanding global reach. This trend might impact Brazil’s own plans for local electric vehicle (EV) manufacturing.
The new BYD plant in Bahia significantly invests in Brazil’s EV infrastructure. Brazil’s young electric car market is growing steadily.
But the dominance of gas-powered cars suggests a long road ahead for full EV adoption. Consumer choices could change as more electric options become available.
Brazil’s current reliance on imported electric cars affects its trade balance.
It also makes the country dependent on external technology. This could push Brazil to speed up its own electric vehicle production efforts.
The planned investment by BYD may also spur job growth and technological innovation in Brazil.
It highlights China’s strategic investment in growing markets.
As Brazil’s electric car market matures, it will be interesting to see how local and foreign players shape its future.
More: Brazil news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Read More from The Rio Times