Import of Four-Wheel Passenger EVs Soars Over Threefold in Just One Month

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. 

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

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.

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

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.