KATHMANDU: Electric vehicle prices are increasing in Nepal. Distributors have started revising prices of Chinese EVs since December 2025.
Importers say multiple factors are driving the price hike. These include higher shipping costs, increased factory prices, and a rising US dollar exchange rate against the Nepali rupee.
According to dealers, earlier pricing was set when the dollar was around Rs 139. It has now crossed Rs 150. This has significantly impacted vehicle pricing.
Shirish Murarka, Director of Paramount Motors Nepal, said dealers are under pressure to increase prices. Some companies have already implemented revisions, while others are preparing to follow.
Last week, BYD increased prices across its popular models. The hike ranged from Rs 75,000 to Rs 300,000.
Similarly, Cimex Inc. has raised the price of the Seres 7 by Rs 500,000 in the past two months. The company cited exchange rate fluctuations and higher transportation costs.
SPG Automobiles initially sold the first 50 units of the iCar V23 at under Rs 4.7 million. The price has now been increased to Rs 4.999 million for subsequent units.
Gaurab Sharada, Director of SPG Automobiles, said the dollar’s rise forced the revision. He added that the company had no option but to increase prices within two weeks of launch.
The trend is continuing as the dollar strengthens further. LRR Group has also increased the price of the EX5 SUV by Rs 200,000.
Industry insiders expect more price hikes. The impact of rising high-voltage battery costs in China has not yet fully reached the Nepali market.
Reports suggest battery prices may increase further by mid-2026. Akash Golchha, Managing Director of GO Automobiles, said cost pressures are growing. He warned that competition may shift from price cuts to price increases.
Global factors are also contributing. Ongoing tensions in the Middle East have affected energy supply in several countries. This has increased demand for EVs.
For Nepal, rising EV prices could affect buyers planning to purchase vehicles soon. The trend indicates that prices may continue to climb in the coming months.
