Paraguay to Launch First Electric Bus Plant by 2026
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Loading... - Freddie Watson
- 02 Aug 2024
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The Ministry of Industry and Commerce (MIC) has announced plans to start the construction of Paraguay's first electric bus assembly plant by the end of the year, with production slated to commence in 2026. This initiative is part of a broader effort to transition towards electric mobility in the country.
Construction is set to begin at the end of this year. The first electric buses are expected to roll off the assembly line in 2026. The project is in collaboration with Taiwanese businessmen, highlighting international investment and cooperation. Although electric buses are initially more expensive than traditional fossil fuel-powered buses, they offer a 70% reduction in mobility costs over time.
Financing and Support
Efforts are underway to secure financing for the project and to develop a model for transforming the current transport system to accommodate electric vehicles. This transformation is being promoted by the Ministry of Public Works and Communications (MOPC).
The new plant will cater to both local and export markets:
Local Market: Paraguay requires approximately 1,000 to 1,500 electric buses.
Export Market: The primary export market will be Brazil.
Government Support
The MIC is actively supporting the project by:
- Providing detailed information on incentive measures.
- Assisting with site selection and infrastructure development.
- Identifying local suppliers and offering tax incentives.
- Facilitating job training programs.
Memorandum of Understanding
The establishment of the Taiwan Master Bus plant was formalized in May during a visit by a Paraguayan delegation led by President Santiago Peña. A Memorandum of Understanding was signed between Minister of Industry and Commerce Javier Giménez and Ting-Fa Wu, president of Taiwan Master Bus.
This initiative marks a significant step towards sustainable transportation in Paraguay, promising economic benefits and environmental improvements through the adoption of electric mobility.
