Brazil has overtaken Belgium as the largest export market for Chinese new energy vehicles (NEVs), according to a report by Reuters on Monday.<\/p>\n
Chinese automakers are increasingly focusing on non-European markets amid the European Union\u2019s anti-subsidy probe into Chinese electric vehicles. This strategic pivot has resulted in a significant boost in exports to Brazil.<\/p>\n
In April, exports of pure electric and plug-in hybrid cars to Brazil surged 13-fold year-on-year to 40,163 units, maintaining Brazil\u2019s position as the top export market for the second consecutive month, the China Passenger Car Association (CPCA) reported. This remarkable increase precedes a planned rise in tariffs on EV and hybrid imports set to take effect in July, aimed at encouraging local auto production.<\/p>\n
Major Chinese automakers like BYD and Great Wall Motor are capitalizing on this trend by ramping up investments in Brazil. BYD is constructing a manufacturing complex expected to begin production by late 2024 or early 2025, while Great Wall Motor has commenced operations at its Brazil plant this month.<\/p>\n
Brazil’s ascension in the NEV market is part of a broader trend. In April, Brazil also became China\u2019s second-largest export destination for all cars, following Russia. Despite Western sanctions, Russia is projected to remain China\u2019s largest car export market, according to CPCA secretary general Cui Dongshu.<\/p>\n
The shift to non-European markets is further evidenced by declining imports of China-made electric passenger vehicles in several EU countries. From January to April, Spain, France, the Netherlands, and Norway saw the largest declines in these imports, influenced by the EU\u2019s ongoing anti-subsidy investigation. In response, Chinese carmakers are expanding their exports to South America, Australia, and ASEAN countries.<\/p>\n
During the first four months of the year, Chinese auto exports to Russia rose by 23 percent to 268,779 vehicles. Similarly, exports to Mexico and Brazil increased by 27 percent and a staggering 536 percent to 148,705 and 106,448 vehicles, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brazil has overtaken Belgium as the largest export market for Chinese new energy vehicles (NEVs), according to a report by Reuters on Monday. Chinese automakers are increasingly focusing on non-European markets amid the European Union\u2019s anti-subsidy probe into Chinese electric vehicles. This strategic pivot has resulted in a significant boost in exports to Brazil. In […]<\/p>\n","protected":false},"author":27,"featured_media":32711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-32710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=32710"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32710\/revisions"}],"predecessor-version":[{"id":32714,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32710\/revisions\/32714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/32711"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=32710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=32710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=32710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}