Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal imported 3,487 electric vehicles (EVs) during the first four months of the current fiscal year, according to the Department of Customs. The imports were valued at NPR 8.37 billion, generating NPR 5.19 billion in revenue.
Compared to the same period last fiscal year, EV imports increased by 700 units. However, imports in Shrawan saw a slight decline after a surge in Baisakh and Jestha due to changes in tax policies introduced in the government’s budget.
The revised tax rates increased customs and excise duties on EVs with motor capacities between 51 kW and 100 kW by 5%. For vehicles with capacities between 101 kW and 200 kW, excise duties were raised by 10%, while customs duties remained unchanged. Vehicles with higher capacities had reduced customs duties but increased excise rates.
Among the imported EVs, 2,115 units had motor capacities between 51 kW and 100 kW, 1,050 units had up to 50 kW, 316 units were between 101 kW and 200 kW, and six units had higher capacities.
China was the largest source of EV imports, contributing 2,510 units or 72% of the total. India supplied 969 units, while Germany and the United States contributed six and two units, respectively.
The data highlights a steady growth in Nepal’s EV market despite increased taxes, reflecting rising consumer interest in sustainable transportation.
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