Import of Four-Wheeler Passenger EVs Surges by Three-and-a-Half Times

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. 

Import of four-wheeler passenger electric vehicles in first month of FY 2024/25

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.  

Import of four-wheeler passenger electric vehicles in FY 2023/24

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.

Import of four-wheeler passenger electric vehicles in first month of FY 2023/24

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.