KATHMANDU: Electric vehicles worth Rs 11.33 billion were imported into the country in the month of Jestha (mid-May to mid-June) of the current fiscal year 2024/25.
According to the Department of Customs, 3,598 units of electric cars, jeeps and vans worth Rs 8.29 billion were imported in the review period. Likewise, 1,021 units of electric microbuses worth Rs 3.06 billion were brought into the country during the month.
A total of 4,619 units of electric vehicles were imported into the country in the 11th month of 2024/25.
The sharp increase in imports was driven by rumors that taxes on EVs would be raised in the new budget. Anticipating tax hikes, most of the dealers stockpiled electric vehicles in their go downs and customs yards. However, the government kept the taxes on electric vehicles largely unchanged in the budget for the new fiscal year 2025/26 which begins in mid-July.
Dealers of electric vehicles have an inventory of over 3,000 units at present, say stakeholders.
A total of 13,492 units of cars, jeeps and vans worth Rs 31.55 billion and 3,132 units of electric microbuses worth Rs 9.48 billion have been imported in the current fiscal year so far.
EVs worth Rs 41 billion imported
EVs worth Rs 41.03 billion were imported into the country in the 11-month period. This includes 13,492 units of cars, jeeps and vans worth Rs 31.55 billion and 3,132 units of electric microbuses worth Rs 9.48 billion, according to imports data released by the department on Friday.
The government mobilized Rs 21.68 billion in revenue from the import of electric cars and microbuses during this period.
Chinese brands dominate Nepal’s EV market, with nearly 75% of all electric vehicles coming from the northern neighbor.
Import Breakdown
According to the department, nine units of unassembled electric vehicles have been imported into the country so far in the current fiscal year.
Of the imported electric vehicles, 4,728 units had motor capacities of up to 50 kW, while 7,354 units were in the 51-100 kW range. Similarly, 1,354 units had motor capacities between 101 and 200 kW, 41 units ranged from 201 to 300 kW, and two units had motor capacities exceeding 300 kW.
The government imposes import duty based on peak motor capacity of electric vehicles.
In terms of electric microbuses, 1,830 units had seating capacities between 11 and 14, while 1,260 units were in the 15-25 seating range.