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Electrical Infrastructure Expansion Will Draw Investments to Brazil's Electric Vehicle Market, Finds Frost & Sullivan

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Electrical Infrastructure Expansion WillElectrical Infrastructure Expansion Will Draw Investments to Brazil's Electric Vehicle Market, Finds Frost & Sullivan PR Newswire SAO PAULO, Nov. 12, 2013 -- Energy distributers' focus on EV R&D paves the way for rapid market growth Brazil ranks as the world's fourth most important automotive market, with a country's electric vehicle (EV) and supporting infrastructure market that has immense potential for growth if automakers decide to invest in it. As energy concessionaries in the country move ahead with research and development (R&D) for EV supporting infrastructure and open up to partnerships, the scope for the market will greatly widen. The Brazilian EV market will also expand rapidly once automotive companies overcome challenges, such as high initial costs, by deploying new business models and leveraging the anticipated import tax relief. New analysis from Frost & Sullivan (http://www.automotive.frost.com), Brazilian Electric Vehicle and Supporting Infrastructure Market, finds that the country had just 125 EVs in operation in 2012, chiefly for R&D and marketing. By 2017, this is expected to reach 5,700 units through imports, driven by import tax reliefs. Brazil's EV and supporting infrastructure market presents two main issues. One is the high acquisition costs; final EV price is two to three times higher in Brazil than in European countries due to the impact of taxes and the huge capital required to implement EVs.

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Published 12 November 2013
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Language English
Electrical Infrastructure Expansion Will Draw Investments to Brazil's Electric Vehicle Market, Finds Frost & Sullivan

PR Newswire

-- Energy distributers' focus on EV R&D paves the way for rapid market growth

Brazil ranks as the world's fourth most important automotive market, with a country's electric vehicle (EV) and supporting infrastructure market that has immense potential for growth if automakers decide to invest in it. As energy concessionaries in the country move ahead with research and development (R&D) for EV supporting infrastructure and open up to partnerships, the scope for the market will greatly widen. The Brazilian EV market will also expand rapidly once automotive companies overcome challenges, such as high initial costs, by deploying new business models and leveraging the anticipated import tax relief.