SAO PAULO, Sept 27 (Reuters) - The sales of new fully

electric or hybrid cars in Brazil are expected to surpass sales

of vehicles run on combustion engines in 2030, a study released

on Friday by automakers association Anfavea showed.

WHY IT'S IMPORTANT

Brazil is the world's eighth-largest car producer, and the

sixth-largest domestic market by sales, according to data

released by Anfavea earlier this year using 2022 numbers

collected locally and by the International Organization of Motor

Vehicle Manufacturers.

BY THE NUMBERS

The study by the Boston Consulting Group, which Anfavea

commissioned, also showed that new fully electric or hybrid car

sales could reach over 90% of Brazil's domestic market in 2040,

from the current 7%.

ADDITIONAL CONTEXT

Chinese automakers BYD and GWM,

which now import electric cars for sale in Brazil, are among the

main players of the local electrified car market and have

already announced plans to start manufacturing in the country.

Traditional U.S. and European automakers have fallen behind

their Chinese rivals in the local EV market, although firms

including General Motors ( GM ) and Stellantis ( STLA ) have

already unveiled plans to launch hybrid-flex vehicles, which can

run on 100% ethanol or gasoline alongside batteries, in Brazil.