Nepal Sees Decline in Electric Vehicle Imports Amid Surge in Petrol Car Demand

Kathmandu. Nepal has witnessed a decline in the import of electric vehicles (EVs), which had recently become highly popular, during the current fiscal year. In the first nine months of the fiscal year 2082/83, the import of electric cars has dropped by nearly 10 percent compared to the previous year.

According to data from the Department of Customs, while 7,967 units of electric cars were imported by the end of Chaitra last year, the number has decreased to 7,173 units this year. The Department of Customs reports that electric cars worth a total of 16.66 billion rupees were imported into Nepal during this nine-month period, generating 10.11 billion rupees in revenue for the government.

Among the imported vehicles, those with a capacity of 51 to 100 kilowatts account for the highest number, totaling 4,083 units. Additionally, 2,506 units of up to 50 kilowatts, 574 units of 101 to 200 kilowatts, and 8 units of over 201 kilowatts were imported.

While the import of electric vehicles is declining, the import of petrol-powered cars has seen a significant increase. During the nine-month period, 4,140 units of petrol cars were imported, which is 50.99 percent higher than the same period last year.

By the end of Chaitra last year, only 2,742 units of petrol cars had been imported. This surge in imports follows a sudden rise in market demand for fuel-powered vehicles.

The combination of rising risks of a fuel crisis and the increasing number of fuel-consuming vehicles instead of electric ones has added new challenges to the economy.