According to industry figures, Brazil has overtaken Belgium as the nation’s top export destination for Chinese new energy cars following the European Union’s anti-subsidy inquiry into Chinese electric vehicles.
Industry statistics revealed that, in the wake of the European Union’s anti-subsidy investigation into Chinese electric vehicles, Brazil has surpassed Belgium as the country’s top export destination for Chinese new energy vehicles.
According to data from the China Passenger Car Association (CPCA), exports of plug-in hybrid and pure electric vehicles to Brazil increased 13 times year over year to 40,163 units in April, making it the largest export market for the second consecutive month.
Brazil, the 10th-largest export market in January, has seen a sharp rise in exports; this is in anticipation of a further hike in tariffs on the import of electric and hybrid vehicles starting in July as the South American nation looks to promote domestic auto manufacturing.
A number of Chinese manufacturers have already begun to raise their investments in order to support local production in Brazil. There, BYD has begun constructing a manufacturing complex with plans to start local production by year-end or early 2025, while Great Wall Motor said this month that it will start operations at its Brazil unit.
In April, Brazil surpassed Russia as China’s top vehicle export destination, becoming the country’s second-largest export destination overall.
According to CPCA secretary general Cui Dongshu, China’s biggest auto export market is still anticipated to be Russia, which is under Western sanctions.
According to CPCA data, the nations that experienced the largest declines in imports of electric vehicles manufactured in China between January and April were Spain, France, the Netherlands, and Norway.
Although China’s automakers have been aggressively pursuing export opportunities in South America, Australia, and ASEAN, the EU’s anti-subsidy investigation has caused a disruption in the country’s automobile exports to the bloc, according to Cui.
Chinese auto exports to Russia rose 23% to 268,779 automobiles in the first four months of this year. During the same year, exports to Brazil increased by 536% to 106,448 and by 27% to 148,705 to Mexico.
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