The bill for Electric Transportation was approved by the congressmen at the Asamblea Legislativa on Thursday afternoon.

This new regulation benefits those who want to import or sell cars that operate 100% on electricity by establishing several tax exemptions, cars with a cost of under US$30,000.00 will benefit form 100% exemption, while vehicles with a higher cost will also have their tax rates reduced considerably.

The bill passed with 37 votes in favor and only one against it. The purpose of this bill is promoting the use of electric vehicles by making them more affordable, while also helping the environment and the country reach its goal of becoming carbon neutral by 2022, as these vehicles produce zero emissions.

The tax exemptions in this project would apply for a period of 5 years since it’s estimated that in five years the prices of the cars in the market will be more accessible. When it comes to parts and assembly systems of electric cars, these would have a 10 year tax exemption.

This project applies not only to particular cars but also seeks to promote the change of the public transportation fleet, involving buses, taxis and electric train.

The benefit applies only for vehicles that are 100% electric.