Demand for electric vehicles grows in Brazil

Brazil's electric vehicle market is showing growth, fuelled by increased imports, sales, and expansion of charging infrastructure. Electric vehicle imports reached a record US$1.6 billion in 2024, up 107.7 per cent from the previous year, according to the Ministry of Development, Industry, Trade, and Services (MDIC).

According to the data, sales growth rose 89 per cent to 177,538 units in 2024, with 21,634 electric vehicles sold in December. This is reported by Brasil 247, a partner of TV BRICS.

Experts predict further market growth in 2025, driven by an increased supply of models, new manufacturers entering the market, falling prices of electric vehicles compared to internal combustion engine vehicles, increased consumer awareness and a growing network of charging stations.

In addition to their environmental benefits, electric vehicles appeal to consumers because of their cost-effectiveness, as the cost of charging is significantly lower than filling up with petrol or diesel. They also require less maintenance.

Analysts predict that electric vehicles will become cheaper than internal combustion engine vehicles before the end of the decade, making the shift to electric vehicles irreversible.