KATHMANDU: Four new vehicle assembly industries have been registered in the current fiscal year so far.
According to the Department of Industry (DoI), these new facilities are set to produce a range of electric vehicles (EVs), including two-wheelers, three-wheelers and four-wheelers.
Three of these industries have foreign investment, while one is backed by domestic capital. Likewise, two of these industries will set up their plants in Mawkanpur, while the remaining two will have their plants in Chitwan and Lalitpur.
The combined paid-up capital of these four industries is Rs 2.5 billion. They are expected to create direct employment for 435 people.
According to the DoI, Shunda Electric Vehicle Company will set up a plant in Chitwan with a plan to assemble 250 electric three-wheelers and 550 electric two-wheelers annually.
Three of these industries have foreign investment, while one is backed by domestic capital.
Similarly, TBD Infratech and Double Wings Electric Vehicle Pvt Ltd are setting up their plants in Makwanpur. TBD Infratech aims to produce 7,000 electric vehicles annually, including 2,000 electric vans and 5,000 electric motorcycles or scooters. Double Wings Electric, on the other hand, will have annual production capacity of 900 electric motorcycles/scooters, 250 electric cars/vans and 300 electric three-wheelers.
Likewise, Li Han EV Industry will set up its plant in Lalitpur with a target of producing 600 electric two-wheelers every year.
The number of vehicle assembly industries has grown significantly over the past decade, driven largely by government incentives aimed at promoting local assembly of motor vehicles.
More than 25 such industries have been registered so far, with six, including one assembling four-wheelers, currently in operation.
