Electric Vehicle Imports Soar

In the initial two months of the current fiscal year 2023/24, Nepal has experienced a significant upswing in the importation of electric vehicles (EVs). Data from the Department of Customs reveals that a total of 898 four-wheeled EVs, boasting various power capacities, have been brought into the country during this period.

Among these imports, 255 electric cars, jeeps, and vans with a capacity of 50 kilowatts constituted a total value of Rs 496 million. Similarly, 651 electric vehicles in the 51 kW to 100 kW power range were imported, with an aggregate import worth of Rs 1.88 billion. Additionally, electric cars, jeeps, and vans with a capacity of 101 kW to 201 kW were also brought in, amounting to an import value of Rs 20.28 million.

Over the first two months of the fiscal year, a total of 1,494 three-wheeled electric vehicles were also imported, with their importation contributing Rs 145.4 million to the economy. Comparing these statistics to the previous fiscal year, where 4,050 electric vehicles worth Rs 12 billion were imported, it is evident that the trend towards EVs is on the rise.

The Department of Customs’ data also highlights the growing enthusiasm of the general public for electric vehicles in Nepal. In the year 2021/22, 1,877 four-wheeled electric vehicles were imported, but this number more than doubled in the fiscal year 2022/23. The data indicates that a total of 4,500 four-wheeled electric vehicles of various models were brought into Nepal in the year 2022/23, representing a remarkable 60 percent increase compared to the preceding year.

The surge in electric vehicle imports reflects a growing interest in sustainable transportation options and cleaner energy sources in Nepal.