Study shows Brazilians ditching ethanol in favor of EV

In Brazil, Bloomberg reports that a study written by the former chief operating officer of one of the world’s largest sugar traders—Alvean—expects Brazilians to switch to electric vehicles en mass which will force sugar mills to shift their production rapidly away from ethanol and flood the global market with sugar. The shift to EVs to expected to hit a critical level by 2030 that would push mills to make the shift, with demand already starting to fall by 2025 and potentially becoming only 40% of today’s consumption by 2040, according to the study’s worst-case scenario.