In 2012, Brazil Was Home to 125 EVs – 5,700 EVs Expected by 2017
In 2012, Brazil was home to an estimated 125 electric vehicles. Those electric vehicles were almost solely used as demonstrators to show the public and government officials what the EV hoopla was and to use for research and development purposes.
By 2017, Navigant Research says Brazil will have 5,700 electric vehicles on its roads. While still a tin figure, going from 125 to 5,700 is substantial growth.
Naviganjt believes that there will come a time when Brazil’s EV market widens greatly, but that won’t happen anytime soon. The nation’s lack of a charging infrastructure truly hinders EV adoption, but EVs will eventually cacth on in Brazil.
“Brazil ranks as the world’s fourth most important automotive market, with a country’s electric vehicle (EV) and supporting infrastructure market that has immense potential for growth if automakers decide to invest in it. As energy concessionaries in the country move ahead with research and development (R&D) for EV supporting infrastructure and open up to partnerships, the scope for the market will greatly widen. The Brazilian EV market will also expand rapidly once automotive companies overcome challenges, such as high initial costs, by deploying new business models and leveraging the anticipated import tax relief.”
“Brazil’s EV and supporting infrastructure market presents two main issues. One is the high acquisition costs; final EV price is two to three times higher in Brazil than in European countries due to the impact of taxes and the huge capital required to implement EVs. Lack of regulations determining how energy for recharge stations will be commercialized is another challenge, especially for private companies, as only nationalized energy utilities have the permission to manage energy in Brazil.”
So, a lot has to happen for Brazil to become EV ready/friendly. If Brazil takes the next decade or two to sort it all out, then we’re confident that the South American nation can get it done.