The Commission for Science and Technology (CCT) approved Bill 6.020/2019 in the Federal Senate, which creates tax incentive policy for the development of electric vehicles and vehicles in Brazil. Proposed by Senator Layla Barros (PDT-DF), the bill will be reviewed by the Committee on Economic Affairs (CAE).

The text of the PL proposes that, during the first decade of regulation, companies participating in the Route 2030 program apply a 1.5% tax credit for research conducted by government agencies in relation to the development of electric vehicles. According to CCT President Rodrigo Cunha (União-AL), Brazil needs to quickly prepare for the future of the automotive industry, as well as the fact that increasing sales of electric vehicles is a global trend.

investment potential

According to the president of CCT, Brazil has a great investment potential for the development of batteries for electric vehicles due to the availability of minerals on the national soil. “We will be able to produce batteries right here and then export them to the outside market, instead of just sending these resources to other countries to make batteries. And there is also an important market that could open up for our biofuels, which can even serve for aircraft engines,” commented Rodrigo.

The Rota 2030 program provides for the provision of numerous tax incentives to automakers, on the other hand, companies need to technologically develop cars produced and sold in the country. PL suggests that those who participate in the program make sure to contribute to the development of electric vehicle research in Brazil. Route 2030 was created during the reign of Michel Temer and has the mandatory goal of reducing CO2 emissions and saving fuel.

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Via: Agencia Senado