Nepal imports EVs worth Rs 5.5 billion in eight months of current FY

Published On: March 24, 2023 01:15 PM NPT By: Himal Lamsal

KATHMANDU, March 24: In the first eight months of the current fiscal year, 2,200 units of electric vehicles (EVs) have been imported into Nepal. According to the data released by the Customs Department, 2,198 four-wheeled electric vehicles were imported in eight months of the current year. According to the department, during the eight months of the current financial year, nine models of vehicles worth Rs 5.5 billion have been imported. According to the department, 1,749 four-wheelers worth Rs 4.92 billion were imported. In the months of January and February alone, 449 EVs worth Rs 562.7 million were imported.

The department said that 2,139 EVs with a capacity of 100 kilowatts have been imported from different countries. Importing 333 four-wheeled electric vehicles with a capacity of 100 kilowatts from China has cost Rs 762.2 million. The state has spent Rs 4.25 billion while importing 1571 four-wheeled electric vehicles of 100 kilowatt capacity from India. 232 electric vehicles of 100 kW capacity have been imported from South Korea and 3 electric vehicles from Indonesia.

52 electric vehicles with a capacity of 100 to 200 kilowatts have been imported. While importing those 52 vehicles, the state has spent Rs 220 million. Similarly, seven electric vehicles of 200 to 300 kW capacities have also been imported. The country has spent Rs 40 million while importing those vehicles. In the current year's budget, the government increased the customs duty on EVs with a capacity of 300 kilowatts from 40 percent to 60 percent.

Similarly, the excise duty on EVs with a capacity of 300 kilowatts was increased from 45 to 60 percent. Due to which EVs of this capacity have been imported in a low amount in the eight months of the current financial year.

In the eight months of the current year, seven electric vehicles with a capacity of 200 kW to 300 kW have entered Nepal. Through the Financial Act, the government increased the customs duty of 15 percent to 30 percent for EVs with a capacity of 100 kW to 200 kW.