Friday, July 19, 2024
HomeAutoXiamen to open EV assembly plant in Nepal worth 3 billion

Xiamen to open EV assembly plant in Nepal worth 3 billion

A Chinese company Xiamen Golden Dragon Auto Body Co Ltd. is set to open its state-of-the-art electric vehicle (EV) assembly plant in Nepal worth 3 billion. The plant will start its operations from somewhere in 2024.

On Monday, April 06, the company reached an agreement with Koshi NK Motors Pvt. Ltd. for its first-ever assembly plant. Tikaram Puri, chairman at Koshi NK Motors says that the plant will start manufacturing EVs commercially in 2024. It’s said that the plant has the capacity to produce over 5,000 electric vehicles annually. According to the company, vehicles of 12, 14, and 18 seats will be made at the plant.

The assembly plant will be operating across a stretch of 15 bigaha in Biratnagar.  However, all the necessary technology will be brought in from China.

Check out: Best Electric Cars Price in Nepal | Latest 2024 Update

Xiamen EV assembly plant in Nepal opens door for affordable EVS

EVs have hit the trend in Nepal. It’s evident in the growing number of two and four-wheeler eco-friendly rides plying the streets. But the affordability remains a concern among the customers willing to make a switch. This is when EV plants such as Xiamen and Koshi NK Motors are collaborating which might bring in some changes.

Xiamen’s Nepal venture follows many automakers operating their own assembly plants in Nepal. Already, Hero, Yamaha, and Bajaj have been producing two-wheelers in Nepal after the government went lenient on the industry in regard to taxes while domestic brand Yatri is going strong too. Do read: Why You Should Buy an Electric Vehicle in Nepal?

On the four-wheel segment, the pace for price-efficient cars is perhaps gathering. Nepali middle class are willing to use four-wheelers but are burdened by the price factor. Let’s hope that ventures such as this address the concerns and bring affordable EVs to Nepali consumers.

Follow us on Facebook to get latest tech news of Nepal for Fintech, Telecom, Banking, Entertainment, Electric Automobiles, More.

Most Popular

Latest Posts