Import Boom: Electric Vehicles on the Rise in 2024

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Kathmandu, May 26: The import of electric vehicles has increased significantly during the first 10 months of the current fiscal year 2023/24.

According to the statistics of the Department of Customs, electric vehicles, including four- and three-wheelers worth Rs. 21.91 billion have been imported during the first 10 months of the current fiscal year 2023/24.

During the review period, 8,497 electric cars, jeeps and vans worth Rs. 21 billion have been imported. The country has imported 7,970 three-wheeler electric vehicles worth Rs. 822 million in the first 10 months of the current fiscal year.

The government has collected customs revenue of Rs. 9.36 billion from the import of 8,497 electric four-wheelers and 7,970 three-wheelers during the review period. The capacity of most number of imported electric vehicles ranges between 51 kW to 100 kW.

A total of 4,896 electric vehicles with the capacity of 51 kW to 100 kW have been imported during the review period.

Similarly, 3,472 electric vehicles with motor power up to 50 kW have been imported. The number of electric vehicles with more than 101 kW to 200 kW motor power was 105 and above 201 kW was 24.

 During the review period, about 2,226 unassembled electric three-wheelers worth Rs. 2,698 million have been imported. The import of electric cars, jeeps and vans has increased significantly during the first 10 months of the current fiscal year as compared to the same period last fiscal year.

The country had imported only 2,955 electric cars, jeeps and vans worth Rs. 8.41 billion during the first 10 months of the last fiscal year 2022/23.

Out of 2,955 electric vehicles, 2,882 electric vehicles with motor power of up to 100 kW and 66 vehicles with motor power of more than 100 kW to 200 kW and seven vehicles with capacity of more than 200 kW to 300 kW were imported.

Similarly, a total of 5673 three-wheelers worth Rs. 559 million were imported during the first 10 months of the last fiscal year 2022/23. During the review period of the current fiscal year, most of the electric vehicles imported into Nepal were Chinese.

Around 5,547 vehicles have been brought from China in four months. This is 65 per cent of total import of electric vehicles. According to the Department, around 2,745 electric vehicles were imported from India, 141 from Indonesia, 48 from Republic of Korea, 13 from Germany and three from America.

The improved supply of electricity in the country and the concession in charging EVs by the Nepal Electricity Authority have also contributed to the increase in the import and use of electric vehicles.

According to the statistics of the Department of Customs, in the fiscal year 2020/21, a total of 249 four-wheel electric vehicles (cars, jeeps) were imported while 1,800 four-wheeler electric vehicles (cars, jeeps) were imported in the fiscal year 2021/22 and 4,050 in the fiscal year 2022/23.

Around 6,914 assembled three-wheeler EVs and 459 unassembled three-wheeler EVs were imported in the fiscal year 2022/23. Similarly, around 6,400 three-wheeler EVs were imported in the fiscal year 2021/22 and 4,250 three-wheeler EVs in 2020/21.

 

Source: The Rising Nepal