Bolivia will implement new incentives to encourage the purchase of flex and electric vehicles

This Ministry of Hydrocarbons and Energy release was published using machine translation.

UCOM MHE 02-22-2024.- With the aim of finalizing the economic, productive and business agreement signed with the Bolivian business community, the national government will implement tax measures and incentives in the energy field to encourage the acquisition of flex fuel vehicles and electric cars .

Flex fuel is a type of fuel system that allows a vehicle to run on different fuel blends between gasoline and ethanol. These vehicles are known as flexible fuel vehicles (FFVs) and have no loss in performance.

Electromobility was promoted by the current government administration with important incentive measures by the State, including Decree 4539, of July 2021, which provides tax and financial incentives for the manufacturing, assembly and import of electric vehicles, hybrids, machinery hybrid and electric agricultural.

Likewise, Decree 4477 was promulgated, which stimulates distributed energy and generation systems so that owners of electric vehicles install chargers in their homes and, at the same time, also have the possibility of generating their own energy. In a complementary manner, favorable credits, also called green credits, began to be offered in the national market.

In this context, the National Electricity Company (ENDE) installed 11 electric charging stations in the main axis of Bolivia, which also offered free recharging until 2023. For its part, the Electricity and Nuclear Technology Authority (AETN) established the technical and safety requirements for its operation, as well as the regulations for the application of rates and maximum marketing prices.

At a global level, energy and power systems are undergoing profound transformations due, mainly, to the need to incorporate more sustainable alternatives from an environmental point of view, contributing to the change of the energy matrix.