The government of São Paulo announced, this Wednesday (30), a tax waiver program of up to BRL 500 million to try to attract around BRL 20 billion in investments for the production of hybrid or clean energy cars.
The incentive, via ICMS credit, will go to automakers that manufacture vehicles powered by biofuels, hybrids or electric, amortizing costs incurred by companies to adapt installed production lines and to build new plants.
The program called Pro Veículo Verde goes to companies that present a minimum investment of R$ 15 million, the government said in a statement.
The announcement comes weeks after Chinese automaker GWM confirmed an investment of R$10 billion to produce electric vehicles in Iracemápolis, in the interior of the state.
The governor of São Paulo, João Doria, also announced that from now on all vehicles to be purchased by the government must be ‘sustainable’.
Source: CNN Brasil
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