Korean Media: China's Electric Vehicles Dominate Brazil with Over 60% Market Share!
On July 15, the Korean media outlet "Global Economy" published an article stating that Chinese brands are rapidly expanding their influence in the Brazilian electric vehicle market. Data released by the Brazilian Electric Vehicle Association (ABVE) recently showed that in the first quarter of 2023, the share of BYD, Great Wall, and Volvo was 40%, but in the first quarter of 2025, the share of Chinese brands (including BYD, Great Wall, and Chery) exceeded 60%. Among them, BYD had the largest share, followed closely by Great Wall Motors.
The industry believes that Chinese electric vehicles have quickly entered the Brazilian market due to their low prices. Chinese companies such as BYD have taken advantage of Brazil's low tariffs to increase exports. The Brazilian government abolished tariffs in 2015 to develop the electric vehicle industry, but last year raised the tariff to 10%. It also plans to increase the tariff every six months before 2026, reaching a maximum of 35%.
The Brazilian Automobile Association estimates that 200,000 Chinese cars will enter Brazil this year. This is a 40% increase from last year.
Aro Aldo da Silva, president of the Brazilian Industry Federation, said, "Some countries have started to close their doors to Chinese cars, but Brazil has not yet done so. Chinese companies are actively taking advantage of this."
Brazil has resources such as lithium needed for electric vehicle batteries, but still lacks the infrastructure to manufacture electric vehicle components. The head of Great Wall Motors Brazil Company said, "We are currently discussing contracts with about 100 suppliers in Brazil."
The industry is watching to see whether the influence of Chinese electric vehicles in Brazil will continue to grow.
Original: https://www.toutiao.com/article/1837714351790186/
Statement: This article represents the views of the author.