The import of four-wheeler passenger electric vehicles (EVs) in Nepal surged by three-and-a-half times in the first month of the current fiscal year, compared to the same period in the last fiscal year.
Nepal imported 381 electric cars, jeeps and vans worth Rs 897.02 million in between mid-July and mid-August this year, compared to 110 units of the vehicles worth Rs 340.61 million in the same period last year, the Department of Customs data show.
The majority of the vehicles, 202 units out of 381, worth Rs 560.86 million were imported from China and the remaining from India except 1 from Germany.
The data show that more EVs ranging up to 50kW and from 51 to 100kW were imported in the period.
| 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 | ||||||
Of 381, 161 EVs are up to 50kW, 216 from 51 to 100KW, one from 101 to 200kW, two from 201 to 300kW, and the remaining one belong to the more than 300kW category.
In the same period last fiscal year, 83 units of four-wheeler passenger EVs were imported from China and 27 from India. Of the total, 21 were up to 50kW, 81 from 50 to 100kW, five ranging from 100 to 200kW and the remaining three belonged to the 201 to 300kW category.
With the 3.5-fold rise in import, the government has collected Rs 521.82 million in import revenue, compared to Rs 182.39 million in the first month of last fiscal year.
| Description | Partner Countries | Unit | Quantity | Imports Value | Imports Revenue |
| Electric car, jeep & van > 101KW to <=200KW | China | PCS | 75 | 305159 | 218316 |
| Electric car, jeep & van > 101KW to <=200KW | Germany | PCS | 20 | 120992 | 86588 |
| Electric car, jeep & van > 101KW to <=200KW | India | PCS | 42 | 106178 | 73724 |
| Electric car, jeep & van > 101KW to <=200KW | Korea, Republic of | PCS | 80 | 469442 | 329116 |
| Electric car, jeep & van 51KW to <=100KW | China | PCS | 6550 | 18727731 | 9196845 |
| Electric car, jeep & van 51KW to <=100KW | India | PCS | 333 | 935042 | 456208 |
| Electric car, jeep & van 51KW to <=100KW | Korea, Republic of | PCS | 2 | 7507 | 1020 |
| Electric car, jeep & van upto 50KW | China | PCS | 1419 | 2934764 | 911910 |
| Electric car, jeep & van upto 50KW | India | PCS | 3002 | 5376285 | 1634006 |
| Electric car, jeep & van upto 50KW | Indonesia | PCS | 150 | 290960 | 82699 |
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | China | PCS | 21 | 153805 | 210886 |
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | Germany | PCS | 3 | 25513 | 35939 |
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | United States | PCS | 3 | 16666 | 23476 |
| Electric Car, Jeep, Van with motors pick power exceedigng 300KW | Germany | PCS | 1 | 12751 | 25980 |
| Total | 11701 | 29482794 | 13286713 | ||
| (Import Value and Imports Revenue are in Rs. Thousands) | Source: Department of Customs |
A total of 11,701 units of four-wheeler passenger EVs worth Rs 29.48 billion were imported in the country last fiscal year, with imports from China dominating the Nepali market, generating a revenue of Rs 13.28 billion.
The EVs are expected to be the centre of attraction at the upcoming NADA Auto Show 2024 as well. Auto dealers are all set to host the biggest automobile exhibition of the country for six days from August 27 at the Bhrikutimandap Exhibition venue in Kathmandu.
As many as 95 companies and organisations are set to showcase their products and services in 130 stalls at the event, according to the organiser, who expect to attract over 75,000 visitors.
This year's exhibition will feature 24 four-wheeler brands, 19 two-wheeler brands, and 12 light commercial vehicle brands.
| Description | Partner Countries | Unit | Quantity | Imports Value | Imports Revenue |
| Electric car, jeep & van > 101KW to <=200KW | China | PCS | 5 | 13981 | 9762 |
| Electric car, jeep & van 51KW to <=100KW | China | PCS | 75 | 228793 | 112372 |
| Electric car, jeep & van 51KW to <=100KW | India | PCS | 6 | 29543 | 14511 |
| Electric car, jeep & van upto 50KW | India | PCS | 21 | 45482 | 13611 |
| Electric Car, Jeep, Van with motors pick power 201KW to 300 KW | China | PCS | 3 | 22812 | 32134 |
| Total | 110 | 340611 | 182390 | ||
| (Import Value and Imports Revenue are in Rs. Thousands ) | Source: Department of Customs |
Banks and financial institutions have also prioritised vehicle (auto) loans targeting the NADA Auto Show 2024 and the festive season which is just around the corner. Banks have started announcing auto loan schemes with low-interest rates and various incentives as they have excess liquidity for investment.
The organisers have announced that the event will feature around a dozen and a half stalls from banks and financial institutions, as it is regarded as the premier event for vehicles in the country.
