ABVE President Ricardo Bastos anticipates Brazil’s battery production for electric vehicles within five years, driven by domestic and regional Latin American demand. Companies, including BYD, aim to localize manufacturing, investing in lithium exploration and battery production. ABVE predicts over 150 thousand electric vehicles sold in 2024, a 60% surge from 2023, aided by the Mover program. Bastos sees an opportunity for Brazil to dominate the Latin American electric bus market and urges production expansion for light vehicles. Challenges include regulatory issues like R&D investment requirements and adapting energy infrastructure for battery storage in reserve auctions, discussed during congressional hearings.
Source: Nova Cana
BRAZIL WILL PRODUCE BATTERIES FOR ELECTRIC CARS BEFORE 2030, ABVE BETS.
Published On - 9 de May de 2024