Flávio Figueiredo Assis sold a company in the financial sector to invest in his own automobile manufacturer – just like billionaire Tesla boss Elon Musk. Meet the new LECAR, built in Brazil
Entrepreneur Flávio Figueiredo Assis has revealed plans to launch the first Brazilian electric car. He said its eco-credentials will assist his mission to change the image of Brazil to the world. And he freely admits his inspiration is billionaire Elon Musk, who has a similar story to the entrepreneur.
With a degree in Law and Accounting, Assis is the founder of Lecard, a food card administrator that reached an annual turnover of US$1 billion, supplying to public bodies and private companies. In 2022, he sold the company with the intention of creating the first electric car manufacturer in Brazil, LECAR. The company’s mission is to redefine Brazil’s presence on the global automotive scene through non-polluting vehicles that meet the demands of authorities and consumers.
Currently, the team has 30 engineers, many of them with experience at companies such as Ford, Toyota and Nissan. The factory is being set up in the southern region of the country, with 65% of the parts being national and 35% imported.
The LECAR 459, the company’s first vehicle, will have batteries from the company Winston Battery, which also supplies to Volkswagen and Hyundai. Consumer price will be US$55,000, with a range of 400km per charge. The company also plans to launch an urban version with a popular price, the LECAR POP, with an estimated price of US$20,000, 250km per charge and capacity for five passengers.
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Flávio Figueiredo Assis said: “Capital is 100% owned, but the expectation is to carry out an IPO by 2025. The planned investment is US$3 billion.
“In addition to a project that favours mobility and sustainability, our objective is to create a perception of value for Brazil, just as we should always be perceived. We are the 9th economy in the world, passionate about cars and Formula 1. We have Ayrton Senna, Nelson Piquet and Emerson Fittipaldi, F1 champions, as our idols, and nevertheless we never had a national car manufacturer.
“Let’s change the course of history.”
Before production begins prototypes will go to London, UK, to undergo a series of approvals at LATIN NCAP, with impact, aerodynamic and safety simulator assessments. The expectation is that the first vehicles will be manufactured from December this year. In 2025, the goal is to produce 300 vehicles per month, with revenues of US$200 million.
In five years, LECAR intends to produce 50 thousand cars annually, with US$15 billion in revenue. The company also intends to create a subscription plan, changing the culture of ownership to one of access and sharing, which are the most sustainable ways of using cars. The base subscription for the 36-month lease plan will be offered for approximately 3% of the sales price for a monthly mileage of 1,000 km.
Another fundamental initiative is in relation to charging infrastructure. The company intends to install fast charging stations on the 10 largest highways in Brazil, totaling 36,437km. With this plan, any electric vehicle will be able to travel across the entire country. Stations will be strategically located every 200 kilometers, allowing drivers to recharge their cars quickly, conveniently and safely.
In addition to operating throughout the national territory, the entrepreneur plans the internationalization of his automobile manufacturer, especially to the USA, France, Italy and Monaco. “We are already lining up a series of partnerships in these countries to take our brand to the world.”
Moreover, LECAR plans to create a battery cell factory, allowing self-sufficiency in car production. “We have 97% of the minerals that make up battery cells in our country. In addition to being self-sufficient, we can also become protagonists and a major reference in the global electric vehicle market, supplying cars to other countries. We are committed to making all of this a reality”, the entrepreneur states proudly.
