The latest data from the customs department highlight that electric vehicles (EV) imports doubled in Nepal. In the first 11 months of the current FY 2079/80, around Rs 11.23 billion was spent on EVs compared to the same duration from the previous FY.
Till Jestha FY 2079/80, Rs 11 billion, 23 crores, 73 lakhs, and 92 thousand was spent. A total of 3 thousand, 870 units of electric vehicles were imported into Nepal during the same period. This translated to a total of Rs 3 billion, 5 crore, 11 lakhs, and 82 thousand in revenue for the government.
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In the last FY 2078/79 till the first 11 months (till Jestha), only 1 thousand 704 EVs were brought into Nepal for the cost of Rs 5 billion, 5 crore, 16 lakhs, and 13 thousand. As per the record, EV import increased by 127.11%, or by 2 thousand, 166 units between the same periods from different FYs. In terms of spending, it is an increase of Rs 6 billion, 18 crore, 57 lakh, and 79 thousand.
| Electric Vehicles Import in Nepal | FY 2079/80 till Jestha | FY 2078/79 till Jestha |
| Cost | Rs 11.23 billion | 3,870 |
| Units | Rs 5.16 billion | 1,704 |
Fuel costs, vehicle maintenance, and environmental factors have propped up EV prospects in Nepal. More people are today attracted to the idea of EVs than ever.
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100 kw EVs dominate | Electric vehicle import doubled in Nepal till Jestha FY 2079/80
100 kw EVs have a dominating presence in Nepal’s EV market. Till the end of Jestha, FY 2079/80, 3, 752 units of 100 kw EVs were imported into Nepal which cost Rs 10 billion, 77 crore, 35 lakh, and 59 thousand.
Secondly, 100 – 200 kw EVs came second in their figure of imports with 106 units arriving in Nepal for a total cost of Rs 39 crore, 74 lakh, 7 thousand.
The higher capacity EVs are rarely imported as they reflect less popularity in Nepal. As per the data, in the 200 – 300 kw segment, only 10 units of EVs were imported which cost Rs 5 crore, 54 lakh, and 68 thousand.
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Likewise, only two units of 300 kw capacity EVs were imported into Nepal during the same period for Rs 1 crore, 9 lakhs, 56 thousand.
| Electric Vehicles Import with capacity | Units |
| <100 kw | 3,752 |
| 100 – 200 kw | 106 |
| 200 – 300 kw | 10 |
| >300 | 2 |
India remains the largest importer of electric vehicles for Nepal. During the first 11 months of FY 2079/80, 2 thousand, 205 units of EVs came into Nepal from the Norther neighbor. China imported 1 thousand, 269 EVs to Nepal for Rs 3 billion, 75 crores, 15 lakhs, and 42 thousand.
While EV stakes are rising, the government has imposed its inconsistent EV tax policies much to many’s dismay. How do you think the EV market is headed in Nepal? Do you think it is certain to have a future as Yatri registration inspires or the policies may play detrimental to its potential? Do offer your insight in our comment section below.