Surge in imports: Chinese electric cars now control 35% of Brazil’s market in 2023

Dec, 29, 2023 Posted by Gabriel Malheiros

Week 202347

According to a report by O Globo on December 27, electric cars imported from China experienced a significant leap in 2023, now accounting for 35% of the total Brazilian market and poised to increase their share even more in 2024.

Bright Consulting reveals that Chinese brands represented only 0.4% of electric cars imported to Brazil in 2021. This figure jumped to 8% by the end of 2022, and as 2023 concludes, Chinese electric vehicles make up 35% of the total imports in the country.

Despite this growth, the consultancy notes that Brazil still has few public charging stations for electric vehicles. There are a total of 3,000 charging stations in Brazil, compared to 1.8 million in China, 128,000 in the United States, and 29,000 in Japan.

O Globo reports that in the coming year, two new Chinese electric car brands—Omoda and Jaecoo, belonging to the Chery International group—will enter Brazil in a joint operation, launching three models. Although the prices are yet to be disclosed, expectations are that they will be competitive.

In 2024 and early 2025, GWM’s factory in Iracemópolis, São Paulo, and BYD’s facility in Camaçari, Bahia, are set to begin production of their first electrified vehicles in the country.

“This year, the percentage of imports from China is expected to reach 35%, meaning one-third of the country’s electrified cars are purchased from the Chinese. With the start of domestic production by BYD and GWM, the impact will be even greater,” stated the partner at Bright Consulting, a firm specializing in the automotive sector, confirming the dominance of Chinese brands in the market.

Source: Bahia Notícias

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