El Salvador's President Bukele Wins Re-election as Electric Vehicle Push Gains Momentum
El Salvador's President Nayib Bukele will serve another four years, as announced. Meanwhile, the Electric Mobility Association of El Salvador (ASOMOVES) is pushing for VAT changes on electric vehicle sales.
ASOMOVES, led by Roberto Parada, aims to reach the Legislative Assembly to discuss VAT on electric vehicle sales. Parada detailed the current state of affairs, highlighting challenges and progress.
Currently, 85% of automobiles in El Salvador are imported from the US, after refurbishment and purchase from insurance companies. Only 15% are new. The number of hybrid vehicles entering the market outpaces the few electric cars.
El Salvador has a Law for the Promotion of Electric and Hybrid Vehicles, but restrictive import conditions and fleet requirements hinder electric car expansion. Work on electric mobility has been ongoing with the government, but progress is slow.
President Bukele's continuation in office may bring further developments in electric mobility. ASOMOVES' VAT discussion could boost electric vehicle sales, driving progress in El Salvador's automotive sector.
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