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Brazil May Provide Incentives for Electric Vehicles, Folha Says

Oct. 31 (Bloomberg) -- Brazil may include electric and hybrid vehicles in the second phase of an incentive program to encourage automakers to manufacture them in the country, according to an article in Folha de S. Paulo citing Heloisa Menezes, secretary of development and production at the Ministry of Development, Industry and Foreign Trade.

The vehicles weren’t included in the first phase of the Inovar-Auto program. The government will consider waiving certain taxes for companies that produce the vehicles in Brazil, the Sao Paulo-based newspaper reported today.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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