This week’s topics: In line with global trends, Brazil’s electric vehicle market is booming. AgTech firms all the rage in Brazil. After years of delays, the country’s 5G auction is imminent.
Brazil’s electric cars market obliterated previous records in the first four months of 2021, according to data from the Brazilian Electric Vehicle Association (ABVE). Almost 7,300 new vehicles were licensed, a 29.4 percent increase from the same period last year.
Momentum. April was the all-time best month for electric cars in Brazil, with more than 2,000 new units licensed. That is twice as many as the entire production in 2016.
Big picture. The segment’s boom shows that “Brazil is joining the global trend of electric cars,” says Toyota’s government affairs manager in Brazil, Thiago Sugahara, speaking to The Brazilian Report.
Still small. Even with recent strides, the segment remains niche. Last year, electric car sales represented just 1 percent of the entire vehicle market. Even with record figures in April, sales only hit 1.6 percent. For Mr. Sugahara, the segment’s biggest problem is the disparity in tax between electric and traditional cars.
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