Despite Challenges, Chinese Companies in Brazil Had a Positive 2024

Companies reported record sales and expansions

Rafael Flores, Head of Logistics Expansion at Shopee

By: SiiLA News

01/07/2025

The year 2024 was marked by significant progress for Chinese companies in Brazil. Retail giant Shopee expanded its operations, automaker BYD boosted the adoption of electric vehicles in the country, and newcomers like TEMU and MG began gaining traction. This movement highlights the influence of China’s Belt and Road Initiative on the Brazilian market.

Since August, the controversial "t-shirts tax" has been in effect, imposing tariffs on international purchases regardless of value. The rate for purchases up to $50 is 20%, while amounts over $50 are taxed at 60%, with a $20 deduction.

Signed into law by President Luiz Inácio Lula da Silva in July 2024, the measure aims to generate R$700 million in revenue this year. Despite the new tax, Chinese companies maintained a positive balance, standing out across various sectors.

Highlights

One of the key highlights was BYD, which reached 70,000 electrified vehicles sold in Brazil in 2024. From January to November, sales grew by 290% compared to the previous year. According to the company, it ranked ninth among the top 10 automakers in the country.

"BYD has already become the brand synonymous with electrification in Brazil. We’ve won over Brazilian consumers and the market. The successive sales records reflect the company’s exponential growth. We aim to be among the top 5 automakers in the country within the next few years," says Alexandre Baldy, BYD Brazil’s Senior Vice President.

In addition to the automotive market, BYD is responsible for São Paulo’s Gold Line 17 monorail project. The company occupies 9,600 m² at the Multitech Condominium in Campinas, where it assembles 100% electric bus chassis and produces photovoltaic modules.

BYD also has an industrial hub in Manaus and is constructing a large industrial complex in Camaçari, Bahia, previously covered by REsource.

Another highlight in the automotive sector came at the end of 2024 when the JK 1455 building in São Paulo secured a lease with MG Motor UK Limited, a subsidiary of the Chinese state-owned SAIC Motor. MG Motor designs and markets vehicles under the British MG brand, manufactured in facilities located in China, Thailand, and India.

Retail

The retail sector also drove the performance of Chinese companies in Brazil. Shein, Shopee, and newcomer TEMU had a promising year in the country. In December, Shopee opened its first logistics hub in Manaus, Amazonas—the third in the North region, alongside hubs in Palmas, Tocantins, and Belém, Pará.

"The new hub in Manaus reflects the company’s mission to make e-commerce accessible to all regions of the country while boosting the local economy by creating jobs," says Rafael Flores, Head of Logistics Expansion at Shopee.

Shopee revealed that two out of ten residents of Amazonas access its app monthly. The company currently operates 12 distribution centers and 150 first- and last-mile logistics hubs in Brazil.

According to Market Analytics, Shopee occupies more than 414,000 m² in Class A+, A, and B industrial properties tracked by SiiLA.

In e-commerce, Shein surpassed Magazine Luiza in website traffic rankings, reaching 6th place with 81 million visits, according to Conversion.

Although Mercado Livre leads the sector with a 13.4% market share, it is followed by Shopee (8.8%) and Amazon Brazil (7.9%). Another Chinese company, AliExpress, ranks ninth.

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