Analyzing Nepal’s Remarkable Drop in Electric Vehicle Imports

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KATHMANDU, March 19: Nepal has witnessed a notable decline in the import of electric cars, jeeps, and vans, signaling a break in the growing trend. Data from the Department of Customs (DoC) reveals the import of electric vehicles (EVs) plummeted in the Nepali month of Falgun (mid-February to mid-March) compared to that in the previous month of Magh (mid-January to mid-February) of the current fiscal year.

Only 276 units of electric cars, jeeps, and vans were imported in Falgun, with just 258 units sourced from China. Not a single unit of EV was imported from India.

This marks a decline in the import figures of the preceding month, Magh (mid-January to mid-February), during which over 1,000 units of EVs were brought into the country.

The data indicates that only 276 units of electric cars, jeeps, and vans valued at Rs 778.8 million were imported in the month of Falgun. In the current fiscal year, a total of 6,159 units of EVs worth Rs 15.81 billion have been imported, generating government Rs 6.99 billion in revenue.

In comparison, 4,663 units of fossil fuel vehicles including cars, jeeps, vans, and buses worth Rs 5.95 billion were imported up to Falgun. This resulted in government revenue of Rs 10.24 billion, with 905 units of fuel vehicles imported only during Falgun.

Additionally, 81,729 assembled and unassembled bikes and scooters valued at Rs 9.55 billion were imported up to Falgun, contributing Rs 9.89 billion in revenue. The DoC reports that 11,763 units of bikes and scooters were imported during the month of Falgun.

Source: Republica