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Brazil Electric Bus Market by Technology, Size, Growth and Demand Forecast, 2013-2025
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The market in the country is mainly driven by factors such as rising focus on charging infrastructure. Present charging infrastructure in the country is focused only around Sao Paulo and Rio de Janeiro, though it is projected to strengthen across other key states, namely, Pernambuco, Sergipe, and Ceara. The roadblocks to the growth of the market include inadequate judicial support, strong disagreement from pro-Ethanol groups, limited charging infrastructure, and high initial procurement cost of electric bus.
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To support the Brazilian electric bus market, the government of the country announced to support the market development in the country by exempting import tax. It highlights that the impact of tax burdens on the Brazilian market will only be for shorter period of time.
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Players in the Brazilian electric bus market is more focused on enhancing their product and innovating new products through various strategic approaches. Various international players are also paving the way for electric vehicles in Brazil. For instance, BYD Company Limited, announced to expand its Brazilian operations with new PV solar panel and electric bus chassis production.
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