Brazil Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% from 2020 to 2027, reaching US$ XX Mn.
Brazil Electric Car Market Drivers & Restraints:
To make EVs a more feasible option for drivers & encourage more research, Brazil is working to permit regulation to support EV production. MMR has expected that personal car sales will rise 68%, from 3.4 Mn units in 2011 to XX Mn by 2027. One of the obstacles Brazil has challenged while attempting a transition to cleaner vehicles is the absence of incentives for the latest technologies. Indeed, while there are excess of substitutes to gasoline vehicles available with EVs produced entirely within Brazil, new technology largely remains expensive & unreachable in Brazil. Two current initiatives, however, are working to cut the price of newer vehicles & rise the numbers of vehicles running on electricity. Like any part of the legislation, the bills too face administrative analysis, but show capacity both of becoming law & supporting a cleaner vehicle fleet in Brazil.
Making Electric Car Manufacturers More Competitive
The Command for the Environment, Customer Protection & Monitoring of the Federal Senate approved Senate Bill 174/2014, which releases EVs & vehicles which run on at least 30% biodiesel which is manufactured in Brazil from IPI (a tax on industrialized products). Furthermore, the bill boosts the import tax on these manufacturers when purchasing parts that have no domestic equivalent. In effect, Senate Bill 174/2014 pursues to reduce the price of producing electric & "greener" vehicles, which also would drive down values for buyers.
Growing the Number of Imported Electric Vehicles:
Two days after the approval of the Senate Bill, the Executive Committee of Foreign Trade Chamber Management declared some good news for anyone interested in EVs in Brazil. Expansion of the impact of the Senate Bill, the Committee approved a draft of a resolution that allows EVs to be excused from some import fees. Indeed, in the plan, electric or fuel cell vehicles will be taxed at a lower rate than the current 35 percent. The new tax rate is up for cooperation & will be determined in further reviews of the resolution, but it looks like it will be lowering the import price.
Transport is the fastest rising greenhouse gas (GHG) emitter of any areas across the globe. Further, within Brazil, transport remains the highest energy related GHG emitter, contributing more emissions than the industrial & residential areas combined. EVs particularly since over 80 % of Brazil's electricity is renewable may bid a viable way to decline CO2 emissions in Brazil but will more importantly lift public health in cities. The local decrease in air pollutants is particularly key as tailpipe emissions are reduced to zero for both batteries EVs & fuel cell EVs.
These governmental changes are dignified to make important changes in the Brazilian EV market, &, if approved, may affect individuals looking to purchase new vehicles to invest in more bearable automobiles. Further, Brazil's investment into cleaner vehicles should be applied to public transport fleets cities have a various range of plans available to them for greening bus fleets & can look to Europe for some motivation. For example, some cities, like Gothenburg, Sweden, are successfully rolling out electric bus fleets to decline emissions & local pollutants. And given the increase of BRT in Brazil, electric buses could be a big way for the country to increase old-fashioned bus fleets & drive down GHG emissions.
Brazil kicks off 2020 in Electric Vehicle mode:
The sale of new hybrid & EVs in Latin America’s largest automobile sector, Brazil, is now averaging approximately 2,000 units per month, achieving 1 percent or more of new vehicles sold for the first time in the country. While the leading brand in 1Q20 is Toyota, other brands doing well are Volvo, BMW & Renault. Meanwhile, numerous new models are estimated to be launched in 2020 so expect the number of Electric Vehicles on streets to increase even more. In mid-January, Brazil’s constitution & justice commission CCJ permitted a bill aimed at eliminating the sale of new petrol & diesel-powered cars in the country as of January 2030. Thus, only EVs & those that run on bioenergy like ethanol would be permitted. The bill also contains the exclusion of all petrol & diesel-powered vehicles on roads starting in 2040. Keep in mind that it is yet to be sanctioned as law.
To support with regional coverage, the São Paulo unit of Portugal-based electric energy company EDP is currently installing 30 rapid Electric Vehicle chargers along São Paulo state highways, complimenting an existing network of 34 charge points spread throughout the neighboring states of Rio de Janeiro, Espírito Santo, and Paraná.
The objective of the report is to present a comprehensive analysis of the Brazil Electric Car Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Brazil Electric Car Market dynamics, structure by analyzing the market segments and project the Brazil Electric Car Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Brazil Electric Car Market make the report investor’s guide.
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Brazil Electric Car Market, By Technology
• BEV
• PHEV
• HEV
Brazil Electric Car Market, By Product
• Hatchback
• Sedan
• SUV
• Others
Brazil Electric Car Market, By Battery
• LFP
• Li-NMC
• Others
Brazil Electric Car Market, By Battery Capacity
• >201 Ah
• <201 Ah
Brazil Electric Car Market, By End-User
• Shared mobility providers
• Government organizations
• Personal users
• Others
Brazil Electric Car Market Key Players
• BMW
• Mercedes Benz
• Renault
• Mistubishi
• Nissan
• Peugeot
• Smart
• Tesla
• ABB
• Eaton
• AVL
• Alfen
• Delphi Automotive
• Volkswagen.
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