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Brazil’s Raizen [RAIZ4:BZ] and Chinese automaker BYD [1211:HK] have announced a partnership to establish a network of 600 electric vehicle (EV) charging stations across eight Brazilian cities, as reported by Reuters on February 2. The collaboration aims to address the growing demand for charging infrastructure in Brazil’s rapidly expanding EV market. Over the next three years, the stations, operating under the Shell Recharge brand and controlled by Raizen and its parent companies Shell[SHEL:LN] and Cosan [CSAN3:BZ], will be installed in major cities such as Sao Paulo and Rio de Janeiro. Raizen, targeting a 25% market share in the charging station segment, sees this initiative as a pivotal element of its growth strategy. The move aligns with Brazil’s distinctive energy transition, emphasizing the prevalence of hybrid and ethanol cars in the country. With EV sales surging by 91% last year to around 94,000 vehicles, and BYD contributing 18,000 units to the total, the collaboration positions the companies strategically in the evolving Brazilian EV market.
Raizen’s Chief Executive, Ricardo Mussa, emphasizes the importance of being a pioneer in this growing market, stating that the EV sector is a fundamental part of the company’s overall growth strategy. Last year’s significant increase in EV sales in Latin America’s largest economy underscores the potential for further growth in the sector. BYD’s special advisor in Brazil, Alexandre Baldy, considers the agreement as strategically timed for the automaker, coinciding with its plans to commence local production in Brazil later this year. The collaboration reflects a broader trend of global partnerships aimed at expanding EV infrastructure and addressing the evolving needs of the growing electric vehicle market in different regions.
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