Bolivia is a small market with car sales of 44,000 units in 2022, but it has the world’s largest lithium reserves and policy developments need to be monitored closely. The Bolivian Government aims to start exporting lithium-ion batteries made from domestic raw materials in the first quarter of 2025, and as part of this, in January 2023, the Ministry of Hydrocarbons and Energy announced that the CBC consortium led by China’s CATL had signed an agreement with the Bolivian Lithium Corporation for lithium production in two salt lakes in the country and It announced that it had signed an agreement with the Bolivian Lithium Corporation to build lithium plants in two salt lakes in the country. Negotiations are ongoing with other companies and consortia in the US, China and Russia.