BEIJING (Reuters) – Brazil surpasses Belgium as the largest market for Chinese new energy vehicles. Chinese carmakers boost sales to non-European markets amidst EU’s anti-subsidy probe.
In April, exports of electric and plug-in hybrid cars to Brazil surged 13-fold year-on-year. Brazil maintained its position as the biggest export market for the second consecutive month.
Exports to Brazil sharply rose, despite it being the 10th largest market initially. Tariff increases on EVs and hybrids begin in July, aiming to promote local auto manufacturing.
Several Chinese automakers have already started increasing investments for local production in Brazil. BYD has started building a manufacturing complex there to begin local production by year-end or in early 2025 and Great Wall Motor has said that its Brazil plant would begin operations this month.
Brazil also became China’s second-largest export destination for all cars in April, trailing Russia which retained its top spot.
Russia, which is subject to Western sanctions, is expected to remain China’s largest car export market, said CPCA secretary general Cui Dongshu.
Spain, France, the Netherlands and Norway were among the countries that saw biggest falls in imports of China-made electric passenger vehicles in January-April, according to CPCA data.
Moreover, the surge in demand for Chinese EVs in Brazil reflects broader trends reshaping the global automotive industry, as countries worldwide transition towards cleaner and more sustainable transportation solutions.
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