Around 1,600 EVs worth about Rs 3.82 billion imported within two months

Published On: September 25, 2024 09:50 AM NPT By: Republica | @RepublicaNepal

KATHMANDU, Sept 25: Nepal imported 1,602 electric vehicles (EVs) in the first two months of the current fiscal year. According to the data of the Department of Customs, these EVs were imported during the months of Shrawan (mid-July to mid-August) and Bhadra (mid-August to mid-September) in the fiscal year 2024/25.

The government collected Rs 2.31 billion in revenue from the import of these EVs worth Rs 3.82 billion.

The majority of the imported vehicles were jeeps, cars, and vans with a capacity of 51 to 100 kilowatts, totaling 938 units. Additionally, 560 EVs with a capacity of 0 to 50 kilowatts were imported into Nepal.

According to the data released by the Department of Customs, electric vehicles worth Rs 2.71 billion were imported in Bhadra. In comparison, electric cars, jeeps, and vans worth Rs 897 million were imported in Shrawan.

The import of electric vehicles in the first two months of the current fiscal year has surged by 78 percent compared to the same period of last year, when 898 units worth Rs 2.407 billion were imported. During the corresponding period of last fiscal year, the government collected Rs 1.126 billion in revenue from EV imports.

Targeting the upcoming Dashain and Tihar festivals, traders have significantly increased the import of EVs, tripling the volume compared to Shrawan. In Bhadra alone, 1,221 electric cars, jeeps, and vans were imported, three times higher than the 381 EVs brought in during Shrawan. Sellers attribute the rise in EV imports to the NADA Auto Show and the upcoming festive season.

The NADA Automobiles Association, a vehicle sellers' organization, held an auto show from August 27 to September 1. During the auto show, 4,200 vehicles were booked. However, not all booked vehicles are sold, with traders estimating that around 60 percent of the bookings will result in actual sales. They also have vehicles in stock that were brought in before the budget announcement.

The majority of the imported electric vehicles are from China, with 1,125 units brought in over the past two months. Currently, about a dozen brands, including BYD, MG, Omoda, Deepal, Seres, Nammi, and Neta, are being imported from China.

In the past two months, 475 units of electric vehicles have been imported from India. Additionally, data shows that 1,225 units of four-wheelers powered by fossil fuel were also imported into Nepal.