Kathmandu. There has been an increase in the import of electric vehicles. In the first nine months of the current fiscal year 2081/082, 7,958 electric cars, jeeps and vans (EV vehicles) were imported into Nepal.
According to the data released by the Department of Customs, 2,783 50 kW EV vehicles have been imported till Chaitra. Similarly, 4,414 EVs ranging from 51 kW to 100 kW have been imported to Nepal in the last 9 months.
742 EVs ranging from 101 kW to 200 kW have been imported to Nepal, while 17 EVs ranging from 201 kW to 300 kW and 2 EVs above 300 kW have been imported to Nepal.
Nepali entrepreneurs have spent 18.61 billion rupees 5.83 billion rupees to purchase these EVs until Chaitra, while the Nepalese government has collected 11.47 billion rupees 3.91 billion rupees in revenue through this.
The National Bank has said that the down payment may put the investment of banks and financial institutions in EVs at risk. It has been increased from 20 percent to 40 percent. The National Bank has adopted this measure after EV sellers started selling vehicles in a way that only affected banks and financial institutions. The Chief Executive Officers (CEOs) of commercial banks had reached the National Bank to lobby for an increase in down payment.
How much was imported from which country? ?
With the increase in EV users in Nepal, imports have also increased. According to the data released by the department, currently the largest import of EV vehicles is from China. By the end of Chaitra of the current fiscal year, 5,893 EVs have been imported to Nepal from China alone.
Similarly, in the past 9 months, 2,023 EVs have been imported to Nepal from India, while 31 have been imported from Germany, 3 from South Korea (Republic of Korea), and 5 from the United States (US), according to the data. Low cost and easy financing have led to an increase in the use of electric vehicles.
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