The import of electric cars, jeeps and vans surged more than threefold in Nepal in the second month of the current fiscal year, compared to the first month.
The country imported 1,221 units of such vehicles worth around Rs 2.93 billion from mid-August to mid-September compared to 381 units worth Rs 897.02 million between mid-July and mid-August this year, taking the total import in the first two months to 1,602 units worth Rs 3.82 billion, the Department of Customs’ statistics show.
The data show that more EVs ranging 51 to 100kW were imported in the fist two months. Of the 938 units of the electric vehicle in that range, 662 were imported from China and the rest from India.
China continues to dominate Nepal’s EV market as 1,125 units of the vehicles imported in the first two months, or around 70 percent, were from China. While 475 units, or 29.65 percent, were from India, the remaining two units were from the United States and Germany.
| Description | Partner Countries | Unit | Quantity | Imports_Value | Imports_Revenue |
| Electric car, jeep & van > 101KW to <=200KW | China | PCS | 98 | 318278 | 268752 |
| Electric car, jeep & van > 101KW to <=200KW | United States | PCS | 1 | 4114 | 3501 |
| Electric car, jeep & van 51KW to <=100KW | China | PCS | 662 | 1872750 | 1193639 |
| Electric car, jeep & van 51KW to <=100KW | India | PCS | 276 | 559375 | 356532 |
| Electric car, jeep & van upto 50KW | China | PCS | 361 | 719520 | 310725 |
| Electric car, jeep & van upto 50KW | India | PCS | 199 | 326648 | 141343 |
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | China | PCS | 2 | 9970 | 15582 |
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | Germany | PCS | 1 | 8512 | 13303 |
| Electric Car, Jeep, Van with motors pick power exceedigng 300KW | China | PCS | 2 | 8323 | 8826 |
| Total | 1602 | 3827490.919 | 2312203.567 | ||
| (Import Value and Imports Revenue are in Rs. Thousands) | Source: Department of Customs |
The government collected Rs 2.31 billion in revenue from the import of the four wheeler passenger EVs in the first two months of the current fiscal year.
Last fiscal year, Nepal had imported a total of 11,701 units of electric cars, jeeps and vans worth Rs 29.48 billion, generating a revenue of Rs 13.28 billion. of the total, 898 units worth Rs 2.43 billion were imported in the first two months.
Similarly, the country also imported 1,668 units–1,316 from China and 352 from India–of electric three wheeler vehicles worth nearly Rs 134 million in the first two months, compared to 646 units–524 from China and 122 from India– worth around Rs 65 million in the first month.
Additionally, 1,489 unassembled three wheeler eVs worth nearly Rs 140 million were imported in the first two months, compared to 281 units worth Rs 23.68 million in the first month.
| Description | Partner Countries | Unit | Quantity | Import Value | Import Revenue | ||
| Electric car, jeep & van > 101KW to <=200KW | China | PCS | 1 | 2860 | 2434 | ||
| Electric car, jeep & van 51KW to <=100KW | China | PCS | 115 | 383198 | 244240 | ||
| Electric car, jeep & van 51KW to <=100KW | India | PCS | 101 | 203697 | 129832 | ||
| Electric car, jeep & van upto 50KW | China | PCS | 84 | 165864 | 71158 | ||
| Electric car, jeep & van upto 50KW | India | PCS | 77 | 123948 | 53633 | ||
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | China | PCS | 1 | 4625 | 7228 | ||
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | Germany | PCS | 1 | 8512 | 13303 | ||
| Electric Car, Jeep, Van with motors pick power exceedigng 300KW | China | PCS | 1 | 4317 | 0 | ||
| Total | 381 | 897021 | 521827 | ||||
| (Import Value and Imports Revenue are in Rs. Thousands) | Source: Department of Customs | ||||||
Electric vehicles had stolen the limelight at the NADA Auto Show 2024, the biggest automobile exhibition in the country, which was held in Kathmandu from August 27 to September 1.
While 80 percent of the vehicles in the exhibition were electric, they also accounted for 70 percent of the bookings , according to the organisers. Over 3,000 vehicles were booked during the six-day long exhibition.
Sipradi Trading, the official dealer in Nepal for the Indian company Tata Motors, had told NBA after the exhibition that as many as 644 units of Tata vehicles –475 units of Tata Punch EV and 169 units of Tiago EV – were booked in six days.
Similarly, Cimex Inc., the official seller of BYD in Nepal, had put into exhibition the BYD ATTO 3 among other cars.
Cimex had claimed last month that it has sold around 4,500 units of the car so far.
Banks and financial institutions had also prioritised vehicle (auto) loans targeting the NADA Auto Show 2024 and the Dashain and Tihar festivals. Banks have announced auto loan schemes with low-interest rates and various incentives with the availability of enough liquidity for credit expansion.
Dashain, this year, begins on October 3.
