Rising fuel prices not enough to spark Brazil’s EV market

By Rajendra Malviya On Feb 3, 2022

Like many emerging markets, emissions resulting from road transportation in Brazil are high. Awareness of the problem has been growing among consumers, and the government has recognised more must be done. However, a love affair with ethanol, limited spending power and sparse charging infrastructure has hamstrung the country’s adoption of electric vehicles (EVs).

Meanwhile, fuel prices in Brazil are surging, up roughly 44% year-on-year at the pump in 2021. In December 2021, Brazil’s President Jair Bolsonaro advised that state-owned oil giant Petrobras would lower its fuel prices in the coming weeks. But by January, the company said it would need to raise the price of diesel and gasoline. Members of the Brazilian government have said that a bill could be released in February to stabilise the price of fuel; Senate Speaker Rodrigo Pacheco put forward the suggestion in January 2022.

But is the rising cost of running an internal combustion engine (ICE) vehicle enough to bring more early adopters into the EV fold?

Rising fuel prices not enough to spark Brazil’s EV market — Models such as the Nissan Leaf have done well in Brazil, but total EV sales are still exceptionally low

Slow off the mark

According to

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