Opinion – Eduardo Sodré: BNDES facilitates the purchase of less polluting vehicles and machinery

An important step towards reducing emissions in Brazil was taken this Friday (28). Anfavea (association of automakers) and BNDES (National Bank for Economic and Social Development) presented the new rules of the Finame Low Carbon program.

This is a line of credit for the purchase of vehicles and machinery powered by electricity, a hydrogen cell or biofuel, such as natural gas and ethanol.

Before, access to credit was restricted to products with at least 50% national content. Now this index starts from 5% for, for example, 100% electric cars used by rental companies.

The benefit includes fleet owners and other small, medium or large companies and is not restricted to light or heavy vehicles. The plan may include solar energy generators and other equipment used in charging infrastructure, as well as machines used in agribusiness. Credit is available to both producers and buyers.

The period for joining the new Finame Baixo Carbono runs until December 2024. The program was created in 2019, but the health crisis caused by the new coronavirus interrupted the plans.

Although it starts at 5%, the national content index will adjust over the years. In 2025, it becomes 15% and, two years later, it rises to 30%. In 2029, the percentage goes back to 50%.

BNDES believes that these deadlines will be enough for the national industry to adapt to the new times, with a greater focus on decarbonization.

The maximum term of the financing is 10 years, with a grace period of up to 24 months. The ceiling is R$ 150 million per registered company, depending on criteria linked to the company’s working capital.

Despite being aimed at companies, the program will affect retail. This opens up, for example, the possibility of massifying programs for sharing electric vehicles, which can be passenger cars, scooters or motorcycles.

For fleet owners, it is easier to acquire electric trucks, such as the national Volkswagen e-Delivery, or powered by natural gas. This solution is offered by Scania.