⚡ Brazil's Electrification

Brazilians are buying more EVs than ever. One country in particular is profiting.

Welcome to Latinometrics. We bring you Latin American insights and trends through concise, thought-provoking data visualizations.

Automobiles 🚘

In case you’ve been living under a rock for the last few years, the single-combustion engine is facing its most dire threat since the walkable city. The name of this scourge is electric vehicles (EVs), and they’ve become all the rage as of late.

Today the world is seeing one country outperform all of the competition when it comes to making and selling these EVs. Unsurprisingly, that country is China, which has been the world’s single largest market for electric cars and other “new energy” vehicles for nearly a decade now.

China began its program promoting these vehicles in 2009, and has rolled out intense public subsidies to stimulate demand and develop the industry. The result? Today they’re exporting more EVs than ever, and in the process spooking other major producers who worry they’re being left behind on this ultra-high-value new technology.

With Europe and the United States imposing heavy tariffs to dissuade imports of Chinese EVs, ostensibly for “national security” (protectionist) reasons, China’s carmakers are looking elsewhere to offload their high supply. And Brazil is looking mighty attractive.

China powers Brazils electric car boom

Brazil actually surpassed Belgium in May to become the number-one destination for Chinese EVs, something you’d know already if you cared to read the Domingo Brief each Sunday.

Remarkably, in the first half of this year, Brazil has seen electric car sales soar, surpassing twice the total of 2023 and quadrupling that of 2022.

Roughly 60% of all electric vehicles sold this year in Latin America’s largest market came from China. And this will be the first year that Brazil tops 100K electric vehicles sold.

But who’s leading the charge? Is there a Chinese Elon Musk?