MIC signs memorandum of understanding with Taiwanese firm for the installation of an electric bus plant

This Ministry of Industry and Commerce release was published using machine translation.

The Minister of Industry and Commerce, Javier Giménez, signed an agreement this Tuesday with the Taiwanese company, Master Bus, which will invest approximately USD 30 million for the construction of the first manufacturing and assembly plant for electric buses in Paraguay, creating around of 1,200 jobs.

Moving towards the modernization and sustainability of local public transportation, the Government of Paraguay, through the Ministry of Industry and Commerce, carried out the signing of a memorandum of understanding (MOU) in the city of Taipei, with the leading electromobility company of Taiwan, Master Bus. This agreement marks the last step before the creation of the first electric bus manufacturing industry in Paraguay.

It is worth mentioning that the purpose of this MOU is to outline the terms and conditions of a strategic partnership between both parties, with the ultimate goal of establishing a manufacturing plant. It should be noted that the Master Bus company is recognized for its innovation in electric vehicle technology.

Regarding this signature, the head of the Industry and Commerce portfolio, Javier Giménez, pointed out that the arrival of this industry to the country will generate around 1,200 jobs, and highlighted that many of these jobs will be occupied by Paraguayan students who are currently training in Taiwan, thus strengthening the country's human and technical capital.

“It is an important achievement, we are taking firm steps and we will surely have this industry next year, with the enormous benefits that this entails,” Giménez pointed out.

More efficient public transport

Likewise, Giménez commented that the Government of Paraguay aims to improve public transportation as one of its priorities. The local manufacturing of electric buses is an important step in this direction.

In addition, this project aligns with the objectives by providing safer, more efficient and ecological public transportation. Likewise, Giménez indicated that the new fleet of electric buses will reduce travel times, improving the well-being of workers who spend long hours in daily transportation.

Economic and social impact

Likewise, Giménez stated that the installation of Master Bus in Paraguay will bring numerous benefits to the country. Among them, the reduction of dependence on the import of fossil fuel stands out. It is important to remember that Paraguay currently spends around USD 100 million a year on importing diesel for public transportation, which will be reduced with the local manufacturing of electric buses.

In addition, he emphasized that the national energy matrix will be used, promoting the use of clean and renewable energy. “The arrival of Master Bus to the country will promote the development of technology in the electromobility sector in Paraguay,” said the head of the MIC.

The installation of the electric bus company, Master Bus, in Paraguay represents an important achievement for the country and the industry is expected to begin operations in 2025. This development will not only contribute to the modernization of urban public transportation, but also will reinforce the government's commitment to technological innovation and environmental protection.

With the signing of this memorandum of understanding, Paraguay is moving firmly towards a more sustainable future, fulfilling the long-cherished desire to have an electric bus manufacturing industry that operates under the highest technological standards.