Brazilian President Michel Temer on Thursday signed legislation creating the new tax incentive, investment plan for automakers known as Rota 2030. The plan was passed by both houses of Congress in record time this week. The program offers automakers tax abatements amounting to R$2.1 billion in 2019 and R$1.64 billion in 2020. In exchange, the automakers will make investments of R$5 billion over three years in research and development and new products.
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