Brazil electric, hybrid car sales to grow by 60% in 2024, says industry group

BYD electric vehicles are seen at a BYD dealership in Brasilia, Brazil October 24, 2023. REUTERS/Adriano Machado/File Photo

SAO PAULO (Reuters) - Sales of fully electric and hybrid vehicles in Brazil are expected to rise by 60% this year from 2023, local industry group ABVE said on Friday.

ABVE, which represents electric automakers like Chinese companies BYD and Great Wall Motor Co, forecast sales above 150,000 cars in 2024, after sales surged 91% to 93,927 vehicles in 2023.