By Brazil Stock Guide – Brazil’s government launched a credit program of up to 30 billion reais ($5.4 billion) to help taxi operators and ride-hailing drivers buy new lower-emission cars, expanding a broader industrial policy aimed at renewing the country’s vehicle fleet.
The measure, announced Tuesday (19) by President Luiz Inácio Lula da Silva at an event in São Paulo, will be operated by the Brazilian Development Bank, known as BNDES. The funds will be transferred by the Finance Ministry and offered through financial institutions authorized by the bank.
The program, called Move Brasil – Taxi and Apps, targets workers who rely on vehicles as a source of income and often face limited access to affordable credit. Eligible drivers will be able to finance new cars worth up to 150,000 reais, provided the vehicles meet sustainability requirements.
The credit line applies to flex-fuel, ethanol-only, hybrid flex and electric vehicles made by automakers approved under the government’s Mover program. Interest rates and repayment terms are expected to be defined by Brazil’s National Monetary Council later this week.
Ride-hailing drivers must have been registered on the same platform for at least 12 months and completed at least 100 rides over that period. Licensed and active taxi operators will also qualify.
The provisional measure signed by Lula allows better financing conditions for women, including lower interest rates, longer repayment terms and credit for additional safety equipment.
Drivers will be able to apply through the government portal gov.br/movebrasil. The process is designed to require only the data needed to verify eligibility, avoiding an initial document submission in most cases.
For ride-hailing drivers, platforms will confirm whether the applicant meets the program’s requirements. For taxi operators, eligibility will be checked by Brazil’s Federal Revenue Service through the government’s digital system.
Applicants should receive a response within five business days through the gov.br mailbox. Approved drivers may seek financing from authorized institutions starting June 19. Banks will still conduct their own credit analysis before approving loans.
The measure also makes taxi operators and app drivers eligible for guarantees under FGI-PEAC, a BNDES-managed fund that can cover up to 80% of credit risk in eligible transactions. The guarantee is intended to encourage banks to lend to self-employed transport workers.
BNDES cited data from Brazil’s statistics agency IBGE showing that almost 1.9 million people worked as car drivers in the country in 2024, with average monthly income of 2,500 reais.
The program is part of the government’s broader fleet-renewal agenda and is linked to the Nova Indústria Brasil industrial strategy. It follows other initiatives, including Move Brasil credit lines for trucks and buses and a sustainable-car policy that grants zero IPI tax rates for entry-level vehicles.
The same provisional measure also changes rules for motorcycle couriers, motorcycle taxi drivers and delivery workers. It removes requirements including red license plates for freight motorcycles, paid registration with state traffic departments, a minimum age of 21, mandatory sector-specific training and a two-year minimum license period for professional activity.
Specialized training will remain available on an optional basis. Motorcycle delivery and transport activities will still be subject to traffic rules, regulatory oversight and penalties for violations.
Mercadante Sees at Least 200,000 Vehicle Sales
BNDES expects the new 30 billion-real ($5.9 billion) credit line for taxi and ride-hailing drivers to support the sale of at least 200,000 new vehicles, bank President Aloizio Mercadante said Tuesday (19).
The Move Brasil program could generate between 200,000 and 300,000 vehicle sales, depending on how much financing each worker uses, according to Mercadante. He spoke at a ceremony in São Paulo attended by President Luiz Inácio Lula da Silva, according to Brasil 247.
“Our estimate is that at least 200,000 cars will be sold. It should be between 200,000 and 300,000 cars, because not everyone will take the full financing,” Mercadante said. “Some will take part of it, sell the old car, use savings, and each one will find their own solution.”
The BNDES credit line will be available to taxi drivers, taxi cooperatives and ride-hailing drivers who use vehicles as a source of income. Ride-hailing drivers will need to prove they have been actively registered for at least 12 months and completed at least 100 trips during that period.