Drivers from a Brazilian state will be exempt from IPVA for vehicles that cost up to R$ 300,000. The announcement, made by the Federal Government, reports benefits for car owners across the state.
This change will take place in bahia, and the news was confirmed by the governor, Jerônimo Rodrigues (PT). However, the measure is valid only for vehicles that are produced in the state, and are of the “electric” modality.
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The announcement was made at an event held in the city of Camaçari, after the Chinese automaker BYD acquire the factory that previously belonged to Ford. With this, the company should start production of electric and hybrid vehicles in the state.
According to Rodrigues, “electric cars produced in Bahia, which circulate here, with values up to R$ 300,000, are exempt from IPVA in the state.”
Governor will send Bill to approve exemption
Despite the governor's statement, the idea will still be turned into a Bill, which will be voted on by the Legislative Assembly of the State of Bahia.
Thus, the implementation of the measure will still depend on the vote of parliamentarians. The idea is that the exemption is valid only for the next five years.
It is important to mention that the proposed exemption will apply to all electric vehicles up to the established price range, not just those sold by the automaker BYD. In other words, this opens doors for other assemblers to settle in the territory of Bahia.
Still according to the governor, “if another company comes to settle in Bahia to produce electric vehicles, it will also be entitled to this percentage discount”, he reported.
Learn more about BYD's arrival in Brazil
The automaker has been in Brazil since 2015, with a factory in São Paulo. However, it increased its market share by announcing the purchase of the Ford plant in Bahia.
Currently, BYD is the largest electric car manufacturer in the world and also operates in other markets, such as:
- Production of lithium-ion batteries;
- photovoltaic modules;
- Disposable masks.
The idea with the purchase of this new plant is to guarantee the supply of these vehicles at more attractive prices for Brazilians, increasing the demand for electric cars.
Initially, as established in meetings between the Federal Government and the Government of Bahia, the investment at the factory will be R$ 3 billion in the Brazilian economy, in addition to generating several jobs in the region of Camaçari.
