The report of Brazil Electric Car Market by Technology (BEV, PHEV, HEV), Product (Hatchback, Sedan, SUV, Others), Battery (LFP, Li-NMC, Others), Battery Capacity (>201 Ah, <201 Ah ) , and End-User (Shared mobility providers, Government organizations, Personal users, Others) is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.

Key players operating in Brazil Electric Car Market are BMW, Daimler, General Motors, Nissan, Ford, Renault, Rimac, Tesla Motors, Kia, Mitsubishi, Peugeot, and Volkswagen.

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 Mn by 2027. One of the obstacles Brazil has challenged while attempting a transition to cleaner vehicles is the absence of incentives for that 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 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 Cars:

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.

Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about Brazil Electric Car Market. The report encompasses the market by different segments, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in Brazil Electric Car Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Brazil Electric Car Market positioning of competitors.

Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Brazil Electric Car Market.”

https://www.maximizemarketresearch.com/market-report/brazil-electric-car-market/65376/

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