Record-Breaking Electric Vehicle Imports Boost Vila Velha’s Port Activities

In November, the Brazilian state of Espírito Santo witnessed a historic surge in monthly vehicle imports paid for in local currency, reaching a record-setting value of R$ 1.5 billion. This milestone is attributed to the growing market for electric cars in Brazil.

Behind these numbers is the Vila Velha port complex, which has become Brazil’s primary gateway for electric vehicles. The port, managed by Vports, anticipates importing over 150,000 electric and hybrid cars from China in 2024.

Vila Velha’s port receives these vehicles and distributes them nationwide, with a significant portion heading to São Paulo, home to Comexport, Brazil’s largest electric vehicle importer.

Mayor Arnaldinho Borgo attributes the record-breaking vehicle imports to various structural factors, including the local logistical infrastructure, access to road and rail transport modes, and the imminent return of taxation on electric vehicles in the country.

“It’s worth noting that the new federal legislation foresees a progressive increase in rates for electric vehicles, with taxation ranging from 10% to 12% in January, reaching 18% and 25% in July, depending on whether they are electric or hybrid. This imminent change has led consumers to expedite their purchases while resellers expand their inventories to ensure more competitive prices. The result will undoubtedly be a further boost in sales,” evaluates Arnaldinho.

The mayor also reiterated the advantages that have made the city a top destination for the automotive market:

“This year, we inaugurated a direct route between China and Brazil, making import operations more viable. Without the need for transshipment in another port, costs become much more competitive. In addition to bringing vehicles, the ships from the Cosco shipping company return to China carrying pulp and granite, two of our state’s most important export inputs.”

According to Vila Velha’s Secretary of Economic Development, Everaldo Colodetti, Chinese manufacturers BYD and GWM contributed significantly to the increase in electric vehicle imports through the Port of Vila Velha in November.

“Vila Velha is consolidating its strategic position as a major import hub due to its logistical efficiency and competitiveness. The anticipation of electric vehicle purchases that began in November is a direct reflection of the return of taxation on these vehicles, influencing the increase in imports,” emphasized Colodetti.

Gustavo Paixão, the General Director of Terminals at Log-In Logística Intermodal, discussed the competitive progress of the Vila Velha Terminal (TVV) in the port sector:

“We recorded a growth of 45.3% only between 2022 and 2023. With a varied mix of cargoes and a refined pricing strategy, the terminal billed R$ 165.8 million in just the first three months of this year and also set a historical record for Net Operating Revenue in the period—R$ 48.2 million related to the warehousing of goods and other services. This performance indicates the potential that makes the port operations of the municipality a reference throughout the country,” he reported.

Source: Folha Vitória

Please refer to the following link to access the original news piece: https://www.folhavitoria.com.br/economia/noticia/12/2023/porto-de-vila-velha-bate-recorde-de-importacoes-de-veiculos

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