Despite a humble start, the volume of the import of electric vehicles is increasing in Nepal at a stronger pace. The Customs Department’s latest data shows that the number of EVs Nepal bought rose by a staggering 700% compared to the previous data.
Till the previous Fiscal Year, EVs were just a verbal trend. It hadn’t yet made a significant mark in the Nepali market. Frankly, the number of imports was dismal. But in the current FY 078/79, the volume has significantly risen.
As per the Customs Department, Nepal imported 17 hundred EVs in Nepal in the first 11 months of the current fiscal year (Shrawan – Jestha). The Nepali traders brought in EVs in Nepal that is worth 5.5 billion in Nepali currency.
To put into the perspective, this is an increase in imports by 700% compared to the same period last fiscal year.
In the 11 months of the previous fiscal year 077/78, only 213 electric vehicles shipped to Nepal.
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Major exporters of EVs to Nepal
The records show that China shipped more EVs to Nepal than any other country. Nepal bought a total of 810 vehicles from its Northern neighbor. This consists of 154 vehicles of 100 kW capacity and 656 units of vehicles of 150 – 200 kW capacity.
|Electric Vehicles Import||Units||Capacity|
|China||810||100 kW + 150 – 200 kW|
|South Korea||132||100 kW|
|The UK||13||100 – 150 kW|
Likewise, India also contributed handsomely to Nepal’s EVs boost. It shipped 608 electric vehicles to Nepal. All the 608 units were 100 kW in capacity. Besides, Nepal also bought 132 vehicles from South Korea with 100 kW capacity.
At the same time, the UK also exported 13 EVs of 100 – 150 kW capacity. Nepal also imported electric vehicles from Japan, France, etc. Stagnated by the Covid-19, and reluctance to make a switch, EVs were only seen as an elusive option.
But, people have growingly shown more interest in eco-friendly vehicles. This is certainly to the ever-rising fuel costs and the drive to catch up with the trend.
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Nepal imported EVs worth 5 billion NPR in 11 months
In the first eleven months of the current Fiscal Year, Nepal imported electric vehicles worth 5 billion NRP. The increased import also helped the government earn more from taxes. For the 11 months of imports, the Nepali government collected a cool 1.35 billion NRP in revenues.
Nepal has banned the purchase of high-end phones costing over $600.
The ban will stay in place till the end of the current fiscal year. The banned list included petrol-based vehicles while opening the door for electric vehicles.
As fuel costs continue to mount pressure, EVS is drawing more attention in Nepal. Meanwhile, the government’s tax policy on EVs keeps reflecting ambiguity.
In the midst of the current fuel costs crisis, would you be more inclined toward an electric vehicle or stay content with the fuel-run counterparts? Do comment below.