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Brazil ratchets up electric car fleet

Brazil’s electric vehicle fleet is set to increase 46-fold over the next four years as local energy firms prioritize the development of carbon-free technology.

A study by business consulting firm Frost & Sullivan predicts Brazil will boast 5,700 electric cars by 2017, up from 125 at the end of 2012.

“Brazil ranks as the world’s fourth most important automotive market, with [an] electric vehicle (EV) and supporting infrastructure market that has immense potential for growth if automakers decide to invest in it,” Frost & Sullivan said.

According to the report, the new units will be imported from foreign manufacturers.

Among challenges facing the technology’s expansion in Brazil are high acquisition costs due to stifling taxes and regulations that prohibit private downstream investment.
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