Industry data shows that Brazil has surpassed Belgium to become the largest export market for Chinese new energy vehicles. As the European Union launches anti-subsidy investigations into Chinese electric cars, Chinese automakers have increased sales to non-European markets.
According to data from the China Association of Automobile Manufacturers (CAAM), in April, exports of pure electric and plug-in hybrid vehicles from China to Brazil skyrocketed by 13 times year-on-year, reaching 40,163 units, making it the largest export market for China for the second consecutive month.
However, as Brazil seeks to encourage local car production, the country will further increase import tariffs on electric and hybrid vehicles starting from July this year. Therefore, several Chinese automakers have begun to increase investments in local production in Brazil.
BYD has started construction of a production base in Brazil, aiming to start local production by the end of this year or early 2025. Great Wall Motors also stated that its Brazilian factory will begin operations this month.
From the perspective of overall automobile exports, Brazil also became China's second largest automobile export destination in April this year, second only to Russia. Cui Dongshu, Secretary-General of CAAM, stated that Russia, which is expected to remain China's largest automobile export market despite Western sanctions.
CAAM data also shows that the number of electric passenger cars imported from China to countries such as Spain, France, the Netherlands, and Norway decreased the most in the first four months of this year. Cui Dongshu pointed out that the EU's anti-subsidy investigation has disrupted China's automobile exports to the EU, but Chinese automakers have been actively exploring export markets such as South America, Australia, and the ASEAN.
In the first four months of this year, China's automobile exports to Russia increased by 23% to 268,779 units. During the same period, exports to Mexico and Brazil increased by 27% and 536% respectively, reaching 148,705 units and 106,448 units.
