SP signs an agreement to invest R$ 10 billion in the production of hybrid vehicles

The governor of São Paulo, Tarcísio de Freitas, announced on the 25th of April an investment of R$ 10 billion for the production of hybrid vehicles in the region of Piracicaba. The agreement is the formalization of the partnership with Chinese Great Wall Motors (GWM) and was signed at the automaker’s factory in Iracemápolis.

Tarcísio explained that the first stage of investment is R$ 4 billion until 2026, a period in which around 2 thousand direct jobs should be generated. From 2026 to 2031, another R$ 6 billion will be invested.

Even during the formalization of the agreement, Tarcísio de Freitas said that the government is studying the possibility of granting discounts or even exemptions from IPVA to hybrid and electric vehicles. However, he did not set a deadline for this benefit to take effect.

(Source: G1)