Site icon Fiscal Nepal

Nepal surpasses expectations with soaring electric vehicle imports

KATHMANDU: In a surprising turn of events, Nepal has witnessed a remarkable surge in the import of electric vehicles (EVs), defying government projections.

According to data released by the Department of Customs (DoC) on Sunday, the country imported a staggering 5,017 units of electric cars, jeeps, and vans, amounting to Rs 12.73 billion, from mid-July to mid-December in the current fiscal year.

The government, expecting a decline in EV imports, had implemented tax concessions. However, the trend has been quite the opposite, with electric vehicles establishing themselves as mainstream in the automotive sector.

The DoC reports that in the last six months alone, 5,000 units of EVs were imported, contributing to a customs duty collection of Rs 5.76 billion.

The majority of these electric vehicles appear to originate from China, with brands such as BYD, MG, Seres, Great Wall Motor, and NETA making their way into Nepal.

China alone accounted for the import of 3,121 EV units in the specified timeframe. India has also been a significant contributor, with 1,922 units of Tata, Citroen, and other EVs crossing the border.

In a surprising development, December saw a substantial spike in imports, with 1,421 units of electric cars, jeeps, and vans entering the country. The diversification of sources is evident as well, with 39 units of EVs imported from Korea, 5 from Germany, 17 from Indonesia, and 3 from America.

The government’s attempts to encourage sustainable transportation through tax incentives did not deter the influx of electric vehicles. Instead, it has prompted a shift in consumer behavior towards cleaner and greener alternatives.

This unexpected surge emphasizes the growing popularity of electric vehicles and highlights the need for continued support and infrastructure development to accommodate this burgeoning trend in Nepal’s automotive landscape.

Exit mobile version