China’s leading automaker, BYD, is aggressively expanding overseas. After launching its low-cost Seagull EV (Dolphin Mini) in Brazil, starting at around $20,000 (99,800 BRL), BYD is leading the EV sales surge in the country. However, with a new import tax looming, can the Chinese EV maker cont Contact online >>
China’s leading automaker, BYD, is aggressively expanding overseas. After launching its low-cost Seagull EV (Dolphin Mini) in Brazil, starting at around $20,000 (99,800 BRL), BYD is leading the EV sales surge in the country. However, with a new import tax looming, can the Chinese EV maker continue the momentum?
Last month, BYD launched the Seagull, or Dolphin Mini (as it’s called overseas), in Brazil and Mexico. The model is available in two versions, with 186 miles (300 km) or 236 miles (380 km) NEDC range, respectively.
According to data from Brazil’s Ministry of Development, Industry, Trade, and Services (via Reuters), passenger car imports rose by 46.4%. Chinese vehicles alone accounted for 40% as imports surged 450% over last year.
According to data from the Brazilian Electric Vehicle Association, Brazil’s electrified car sales soared 145% in the first three months of 2024 to 36,090. BYD led the charge with 14,939 units sold, GWM was second with 5,735, while Toyota placed third with 5,049.
Peter Johnson is covering the auto industry’s step-by-step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments. If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising
Moments earlier, Li, global vice president of the world''s largest electronic vehicle manufacturer, BYD, had announced that the Shenzhen-headquartered Chinese company would open an industrial complex in Brazil''s northeastern state Bahia.
BYD plans to invest 3 billion Brazilian reals ($600m) to generate more than 5,000 jobs and produce electric and hybrid cars, as well as electric buses and trucks, in Camacari near Bahia''s capital, Salvador.
The plan marks a political victory for the government of Brazilian President Luiz Ignacio Lula da Silva, himself a former metalworker, who hopes to "reindustrialise Brazil" with support from China.
Last year, another Chinese manufacturer, Great Wall Motor, had announced it would invest $1.9bn in Brazil over the next decade to produce hybrid and electric cars in Sao Paulo state. It expects production to begin next year.
Western car companies like Ford and Mercedes-Benz have left Brazil in recent years after setting up there decades ago, adding to the country''s deindustrialisation woes. But Chinese carmakers are beginning to fill the gap as part of Beijing''s ambitious automaking expansion abroad.
"There is no geopolitical tension here with China, unlike Europe, the USA or Canada," Mauricio Santoro, a political scientist and author of Brazil-China Relations in the 21st Century, told Al Jazeera. "There is no vetoing of Chinese companies, the great example being Huawei, which operates in Brazil with total freedom."
"They are going to use Brazil as an export platform to other countries in South America, to countries like Argentina and Chile, which is something that other multinationals also do here," he added.
Almost half of China''s current investments in South America are in Brazil, which offers opportunities for Chinese manufacturers, said Tulio Cariello, content and research director at the Brazil-China Business Council.
The Chinese vehicle makers'' plans also reflect, in part, the consolidation of China''s rise in South America and perhaps the start of a new chapter of the continent''s most defining geopolitical shift this century.
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