KATHMANDU: The import of hybrid vehicles more than doubled in fiscal year 2024/25.
According to the Department of Customs, Nepal imported 85 units of hybrid vehicles worth Rs 366.8 million during the fiscal year. This marks a 133.33% increase compared to the previous year, when only 36 units of hybrid vehicles were imported into the country.
The government mobilized Rs 894.5 million in revenue from hybrid vehicle imports last fiscal year.
Although demand for hybrid vehicles is growing throughout the world, their adoption in Nepal has been slow due to high taxes that can reach up to 258%.
While electric vehicles (EVs) currently dominate Nepal’s automobile market and enjoy significant tax exemptions, hybrid vehicles are taxed at the same rate as conventional fuel-powered vehicles, making them comparatively more expensive.
Although demand for hybrid vehicles is growing throughout the world, their adoption in Nepal has been slow due to high taxes that can reach up to 258%.
