The electric vehicle market in the country is expected to grow by 17.1% on an annual basis to reach US$1.2 billion in 2024.
The electric vehicle market is expected to record strong growth over the medium term in Brazil. Global firms, including BYD, are investing in the development of manufacturing facilities. The investment is part of the strategy to bypass tax tariffs implemented on the import of electric vehicles in Brazil. Full electric vehicles are subject to 10% import tax, since January 2024. This will increase to 18% in July 2024 and reach 35% in July 2026.
Firms are also entering into strategic collaborations to improve charging infrastructure in Brazil. A major Brazilian energy company Raizen, in February 2024, entered into a strategic partnership with BYD. The two firms, as part of this collaboration, aim to establish a network of 600 electric vehicle charging stations in eight major cities across Brazil. Overall, the publisher maintains a positive growth outlook for the electric vehicle industry in Brazil over the next three to four years.
The medium to long term growth story of the electric vehicle market in Brazil remains strong. Electric vehicle adoption is expected to grow steadily over the forecast period, recording a CAGR of 21.9% during 2024-2028. The electric vehicle market in the country will increase from US$1.0 billion in 2023 to reach US$2.6 billion 2028.
This report provides a detailed data-centric analysis of the electric vehicle and charging infrastructure market, value and volume metrics covering market opportunities and risks across a range of industry categories. with over 75+ KPIs at the country level, this report provides a comprehensive understanding of electric vehicle market dynamics, market size and forecast, and charging infrastructure market statistics.
This report provides the overall vehicle market of the country by value and volume. Further, it breaks down electric and charging infrastructure market. Market opportunity for the electric vehicle segment has been further broken down by type of vehicle driven, car segments, class of vehicles, propulsion type, distance range and by components in Brazil.
The electric vehicle charging infrastructure module provides market size data by number of charging stations, and number of charging points. Market opportunity is broken down by type of chargers, by location of charging points, by charging speed, by connection phase, by type of connectivity and by charger connectivity infrastructure.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
The electric vehicle market is expected to record strong growth over the medium term in Brazil. Global firms, including BYD, are investing in the development of manufacturing facilities. The investment is part of the strategy to bypass tax tariffs implemented on the import of electric vehicles in Brazil. Full electric vehicles are subject to 10% import tax, since January 2024. This will increase to 18% in July 2024 and reach 35% in July 2026.
Firms are also entering into strategic collaborations to improve charging infrastructure in Brazil. A major Brazilian energy company Raizen, in February 2024, entered into a strategic partnership with BYD. The two firms, as part of this collaboration, aim to establish a network of 600 electric vehicle charging stations in eight major cities across Brazil. Overall, the publisher maintains a positive growth outlook for the electric vehicle industry in Brazil over the next three to four years.
Ahead of new tariffs, imports of Chinese electric vehicles increase in the Brazilian market in 2024
According to a report from the Ministry of Development, passenger car imports increased by 46.6% in Q1 2024, compared to the same period in Q1 2023. Chinese vehicles accounted for approximately 40% of the total imports. The flood of Chinese electric vehicles entering the Brazilian market has been largely driven by the upcoming import tariffs that are aimed at protecting local production.- Since 2015, Brazil has had zero import taxes for electric vehicles. However, President Luiz Inacio Lula da Silva is taking measures to restore the taxes later in 2024, to encourage the development of the domestic market. Full electric vehicles are subject to 10% import tax, since January 2024. This will increase to 18% in July 2024 and reach 35% in July 2026. Hybrid vehicles, on the other hand, started attracting 15% import tax at the beginning of the year, which will be further increased to 25% in July 2024 and 35% in July 2026.
Auto Alliance aims to double electric vehicle fleet to 20,000 by the end of 2025 in Brazil
Ride-hailing app 99, in May 2024, announced that the group of companies are seeking to expand urban transportation in Brazil has doubled the target for electric vehicles to 20,000. This comes after performing better than expectations since launching the alliance in Brazil in 2022.- The alliance, which includes businesses such as Raizen, Movida, and BYD, initially planned to reach 10,000 electric cars connected to 99’s app by the end of 2025. However, given the current situation, the alliance increased its target to 20,000 by 2025.
Firms are forging strategic partnerships to set up charging stations across Brazil in 2024
A major Brazilian energy company Raizen, in February 2024, entered into a strategic partnership with BYD. The two firms, as part of this collaboration, aim to establish a network of 600 electric vehicle charging stations in eight major cities across Brazil. This move aims to meet the growing need for charging infrastructure in Brazil's expanding electric vehicle market.- The charging stations will be branded as Shell Recharge and will be installed over the next three years in key urban centers such as Sao Paulo, Rio de Janeiro, and six other state capitals. The Shell Recharge app is available for download on the Google Play store. Raizen, which is controlled by Shell and the Cosan conglomerate, is expected to be instrumental in the development of this charging station network, targeting a 25% share of the market.
The medium to long term growth story of the electric vehicle market in Brazil remains strong. Electric vehicle adoption is expected to grow steadily over the forecast period, recording a CAGR of 21.9% during 2024-2028. The electric vehicle market in the country will increase from US$1.0 billion in 2023 to reach US$2.6 billion 2028.
This report provides a detailed data-centric analysis of the electric vehicle and charging infrastructure market, value and volume metrics covering market opportunities and risks across a range of industry categories. with over 75+ KPIs at the country level, this report provides a comprehensive understanding of electric vehicle market dynamics, market size and forecast, and charging infrastructure market statistics.
This report provides the overall vehicle market of the country by value and volume. Further, it breaks down electric and charging infrastructure market. Market opportunity for the electric vehicle segment has been further broken down by type of vehicle driven, car segments, class of vehicles, propulsion type, distance range and by components in Brazil.
The electric vehicle charging infrastructure module provides market size data by number of charging stations, and number of charging points. Market opportunity is broken down by type of chargers, by location of charging points, by charging speed, by connection phase, by type of connectivity and by charger connectivity infrastructure.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
Scope
This report provides in-depth data-centric analysis of Electric Vehicle and Charging Infrastructure Market in Brazil through 97 tables and 119 charts. Below is a summary of key market segments:Brazil Overall Vehicle Market Size and Future Growth Dynamics
- Market size by value
- Market size by volume
Brazil Electric Vehicle Market Size and Forecast
- Market size by value
- Market size by volume
Brazil Electric Vehicle Market Volume By Drive Segment
- Front Wheel Drive
- Rear Wheel Drive
- All-Wheel Drive
Brazil Electric Vehicle Market Value and Volume By Car Segment
- Passenger Car
- Commercial Vehicle
Brazil Electric Vehicle Market Value and Volume By Passenger Car Segment
- Small Car
- Medium Car
- Crossover Car
- Large Car
- SUV
Brazil Electric Vehicle Market Value and Volume By Commercial Vehicle Segment
- Light Duty Vehicle (Class 1-Class 3)
- Medium Duty Vehicle (Class 4-Class 6)
- Heavy Duty Vehicle (Class 7-Class 8)
Brazil Electric Vehicle Market Value By Vehicle Class
- Low-Priced
- Mid-Priced
- Luxury Class
Brazil Electric Vehicle Market Value By Powertrain
- Parallel Hybrid
- Series Hybrid
- Combined Hybrid
Brazil Electric Vehicle Market Value By Distance Range
- Up to 150 Miles
- 151-300 Miles
- Above 300 Miles
Brazil Electric Vehicle Market Value By Charging Type
- Normal Charging
- Super Charging
Brazil Electric Vehicle Market Value By Propulsion Type
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicles (BEVs)
- Hybrid Electric Vehicles (HEVs)
- Fuel Cell Electric Vehicles (FCEVs)
Brazil Electric Vehicle Market Value and Volume By Vehicle Type
- Two Wheelers (e2W)
- Three-Wheeler (e3W)
- Four Wheelers (e4W)
- Electric Buses
Brazil Electric Vehicle Market Value By Cities
- Tier 1 Cities
- Tier 2 Cities
- Tier 3 Cities
Brazil Electric Vehicle Market Value By Components
- Battery Cells & Packs
- On-Board Charge
- Motor
- Reducer
- Power Control Unit
- Battery Management System
- Fuel Processor
- Power Conditioner
- Air Compressor
- Humidifier
Brazil Electric Vehicle Infrastructure Market Value
Brazil Electric Vehicle Infrastructure Market Volume
- Number of Charging Points
- Number of Charging Stations
Brazil Electric Vehicle - Number of Charging Points By Charging Type
- Level 1 - 240 (V)
- Level 2 - 120 (V)
- Direct Current (DC)
Brazil Electric Vehicle - Number of Charging Stations By Charging Type
- Level 1 - 240 (V)
- Level 2 - 120 (V)
- Direct Current (DC)
Brazil Electric Vehicle - Number of Charging Points By Location
- Residential and Destination
- Streets
- Workplaces
- Flew depots
Brazil Electric Vehicle - Number of Charging Points By Charging Speed
- Slow
- Fast
- Rapid
- Ultrarapid
Brazil Electric Vehicle - Number of Charging Stations By Charging Speed
- Slow
- Fast
- Rapid
- Ultrarapid
Brazil Electric Vehicle - Number of Charging Points By Vehicle
- Passenger Cars
- Buses
- Trucks
- Light Commercial Vehicles
Brazil Electric Vehicle - Number of Charging Points By Connection Phase
- Single Phase
- Three Phase
Brazil Electric Vehicle - Number of Charging Points By Infrastructure Type
- CSS
- CHAdeMO
- GB/T
- Other
Brazil Electric Vehicle - Number of Charging Points By Connectivity
- Smart Charging Station
- Non-Connected Charging Station
Reasons to buy
The report provides a comprehensive overview of the Brazil electric vehicle market and infrastructure, covering the following key aspects:- Market size by value and volume: This report provides detailed market size and forecast data for electric vehicles in Brazil, by value and volume. This data is essential for understanding the current and future potential of the market.
- Detailed EV market opportunity: This report segments the electric vehicle market by drive segment, car segment, commercial vehicle segment, passenger car segment, commercial vehicle segment, vehicle class, powertrain, distance range, charging type, propulsion type, vehicle type, and cities. This segmentation provides a granular view of the market and helps to identify key growth areas.
- EV infrastructure: This report also provides a comprehensive overview of the Brazil electric vehicle infrastructure market, including market size and forecast data, along with detailed market segmentation. This information is essential for businesses that are looking to invest in the Brazil electric vehicle infrastructure market.
- Assess risks: Granular segment level information helps in identifying new business opportunities and risks in the Brazil electric vehicle and infrastructure market.
Table of Contents
1. About this Report
2. Brazil Overall Vehicle Market Size and Future Growth Dynamics
3. Brazil Electric Vehicle Market Size and Forecast
4. Brazil Electric Vehicle Market Size and Forecast by Vehicle Drive Type Segment
5. Brazil Electric Vehicle Market Size and Forecast by Vehicle Type Segment
6. Brazil Electric Vehicle Type Market Size and Forecast by Passenger Car Segment
7. Brazil Electric Vehicle Type Market Size and Forecast by Commercial Vehicle Segment
8. Brazil Electric Vehicle Market Size and Forecast by Vehicle Class Segment
9. Brazil Electric Vehicle Market Size and Forecast by Powertrain Segment
10. Brazil Electric Vehicle Market Size and Forecast by Distance Range Segment
11. Brazil Electric Vehicle Market Size and Forecast by Charging Type Segment
12. Brazil Electric Vehicle Market Size and Forecast by Propulsion Type Segment
13. Brazil Electric Vehicle Penetration Market Size and Forecast by Segment
14. Brazil Electric Vehicle Market Size and Forecast by City Type
15. Brazil Electric Vehicle Market Size and Forecast by Components
16. Brazil Electric Vehicle Infrastructure Market Size and Forecast
17. Brazil Electric Vehicle Infrastructure - Number of charging stations by charging type, 2019-2028
18. Brazil Electric Vehicle Infrastructure - Number of charging points by charging type, 2019-2028
19. Brazil Electric Vehicle Infrastructure - Number of charging points by location, 2019-2028
20. Brazil Electric Vehicle Infrastructure - Number of charging points by charging speed, 2019-2028
21. Brazil Electric Vehicle Infrastructure - Number of charging stations by charging speed, 2019-2028
22. Brazil Electric Vehicle Infrastructure - Number of charging points by vehicle type, 2019-2028
23. Brazil Electric Vehicle Infrastructure - Number of charging points by connection phase, 2019-2028
24. Brazil Electric Vehicle Infrastructure - Number of charging points by charging infrastructure type, 2019-2028
25. Brazil Electric Vehicle Infrastructure - Number of charging points by connectivity, 2019-2028
26. Further Reading
List of Figures
List of Tables