Hyundai has launched its first-ever made-in-Nepal car in Nepal via its assembly plant in Parasi, Nepal. The South Korean automaker’s local seller Laxmi Motor Corporation launched the Hyundai Venue SUV with its domestic pricing.
This comes after PM Pushpa Kamal Dahal “Prachanda” inaugurated the historical Hyundai assembly plant on Saturday, May 11, 2024. The event was marked to coincide with the 50th diplomatic relationship between Nepal and South Korea.
Earlier, it was said that the production of Hyundai cars in Nepal would bring their prices down by up to 10%. That remains a big debate now considering the price of the Hyundai Venue as set by Laxmi Motor.
Check out: Hyundai Exter Launching Soon in Nepal | Price and Specs
Hyundai car assembly plant in Nepal brings Venue SUV with local price
The Made-in-Nepal Hyundai Venue has been announced. Currently, there are two variants of Hyundai Venue available in Nepal.
The petrol-powered Hyundai Venue FL 1.2 S which has the capacity of 1197cc is priced at Rs 44.96 lakh. The other model, Venue FL 1.2 SX which comes with the same engine capacity is set at Rs 53.56 lakh.
| Hyundai Venue | Price in Nepal |
| Venue FL 1.2 S | |
| FL 1.2 SX |
It was expected that Laxmi Group would lower the cost of the SUV by Rs 5 lakh. However, the new budget might have deterred the company from its earlier plan. Previously, the imported FL 1.2 S model cost Rs 48.96 lakh while the FL 1.2 SX was priced at Rs 57.96.
Likewise, after the launch of Venue, i10, Creta i20, and other four-wheelers production are on the pipeline for their assembly in Nepal.
Check out: EV tax in Nepal for 2081/82.
The Hyundai assembly plant in Nepal can produce 5,400 cars. Laxmi Motor Corporation has invested over Rs 5 billion in the plant which stretches across 15 bighas of land in Ramgram Municipality in Parasi.
The government has relaxed taxes on assembly plants to encourage market mobility. To illustrate, the customs duty for CKD (Complete Knock-Down) parts import has been lowered by 25% while the excise duty has been relaxed by 50%.
This should translate to lower final costs of those Hyundai cars coming off the assembly plant in Nepal.
Check out: <<<Electric car brands and their market share in Nepal>>>
10% less costlier
It’s said that the assembled Hyundai cars will see lower prices compared to the imported ones. This means the lineups such as i10, i20, and others assembled in Nepal might be slightly more affordable. It’s expected that they will be 10% cheaper.
Over 2 dozen of two-wheeler assembly plants have been registered in Nepal with Bajaj, Yamaha, and Hero having already been at work. But the Hyundai assembly plant is the first among four-wheelers in the country.
Let’s hope this brings fruitful results to Nepal’s auto market in terms of price and quality.
What do you think of the price of a Nepal-made Hyundai Venue in Nepal? Did you expect it to be further lower or are you fine with it? Do comment in the comment box below.