Brazil going green amid US$8bn local EV production plans

By Daniel Bland - July 12, 2023

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Brazil is turning the page toward electric vehicles (EV) with nearly US$8 billion in private sector investments aimed at kicking off the production of new EV models and their components on Brazilian soil.?

In addition to new EV models from traditional legacy brands such as Audi (Q8 e-tron), BMW (iX1, i7), Chevrolet (Bolt), Fiat (500e Abarth), Ford (Mach E), Mercedes Benz (EQE SUV), Renault (Megane E-tech) coming to the Brazilian market in 2023, three automakers start producing EVs locally in the country in 2024.?

While US-based Argentine owned BMC (Bravo Motor Company)?is investing US$5bn in local production, Chinese automaker GWM (Great Wall Motors) is injecting some US$2bn toward production, and its Chinese counterpart BYD (Build Your Dreams) is investing approximately US$600mn, the latter two taking place in existing factories.??

BMC

In partnership with US-based Rockwell Automation and Swiss company ABB, Bravo Motor Company is currently building a BRL 25 billion (US$5bn) electric mobility complex in the metropolitan region of Minas Gerais state capital Belo Horizonte.

Located in the city of Nova Lima and set to start production in 2024, it will likely be the first Gigafactory in operation in Latin America which entails the production of EVS, their batteries and other components for electric mobility.

The facility is expected to start by producing 22,790 EVs per year but capacity is expected to gradually expand until its completion date in 2029. Plans also call to produce 43,750 lithium battery kits per year. The company is focused on urban work vehicles such as taxis, vans, delivery vehicles, and buses. View more here...