The Colombian national government presented a new initiative to transform the automotive market and convert the country into a regional assembly center for electrified vehicles. Through a draft decree published by the Ministry of Commerce, Industry and Tourism, the administration of President Gustavo Petro seeks to promote local manufacturing of electric cars, plug-in hybrids, motorcycles and buses with tariff and customs benefits for companies that decide to invest in the country. The initiative is part of the Government's reindustrialization and energy transition policy and includes the creation of the Transformation and Assembly Regime for Electric Vehicles (RTE-E) and the Instrument for New Industrial Projects in Plug-in Hybrid and Electric Mobility (Inpimhel).