High ownership costs stunting Brazil’s EV uptake, but all is not lost

Though the major automotive markets have already doubled down on electric vehicles (EVs), enacting that transition in developing markets is an even greater challenge. Brazil is one example where EV uptake has been limited. In March 2020, before the pandemic kicked into gear, around 2,000 EVs were being sold per month. Though that meant Brazilian EVs equated to more than 1% of total sales for the first time, it also represented very minimal uptake considering Brazil produces around two million new vehicles a year. Nurturing this market further will require difficult hurdles to be cleared.