The latest electric car import data hints at the encouraging prospects for the EV market in Nepal. As per the Customs Department, the number of electric cars arriving in Nepal doubled in FY 2079/80 compared to FY 2078/79 pushing the momentum further for the EV industry.
As per the data, a total of 4,050 units of electric cars worth Rs 11 Arab, 84 crores, 8 lakhs, and 95 thousand were imported from five different countries till the end of Ashar of FY 2079/80. It contributed to the government with Rs 3 arab, 30 crores, 44 lakhs, and 87 thousand in revenue.
In FY 2078/79, only 1,807 units of electric cars worth Rs 5 Arab, 32 crores, 5 lakhs, and 50 thousand were imported. In just one year, the industry saw an increase of 123.98 percent. In comparison, the last Fiscal Year saw an increase in electric car import by 2 thousand, 243 units and cost by Rs 6 billion, 52 cores, 3 lakhs, and 45 thousand.
|Electric car import FY 2079/80||Electric car import FY 2078/79||Growth||Growth percentage|
|4,050 units / Rs 11.84 Arab||1,807 units / Rs 5.32 Arab||By 2,243 units / Rs 6.52 Arab||By 123.98%|
Electric car import FY 2079/80
Nepal imports EVs from India, China, South Korea, the US, etc. as highlighted by the Customs Department’s data.
The data show that during the year the majority of the electric cars came from India, 2 thousand, 277 units to be exact. China which dominates as the largest import partner for most electronics trailed second in the EV cars department with 1 thousand, 371 units of electric cars imported to Nepal during the same period.
In the meantime, 321 units came from South Korea, and 11 units from another Asian country Indonesia. The US sold 10 units of brand-new electric cars to Nepal.