Key points
- Nepal set import duties on EVs much lower than those for gas powered cars: Report
- EV market share in Nepal now trails only Norway, Singapore and Ethiopia
- A local official lauds EV trends
ISLAMABAD: Nepal set import duties on electric vehicles (EVs) much lower than those for gas-powered cars to bring the purchase cost down, according to The New York Times.
The newspaper reported that the narrow streets of Kathmandu — sized for pedestrians and rickshaws — are choked with engines. Buses, motorbikes, small trucks and taxis fill the sprawling valley with horns and exhaust.
Charging stations
But recently, a new kind of motor has started to ease the crush. Sleek electric vehicles glide by with a quiet hum. Gleaming showrooms do a brisk business in the latest models, and charging stations on the highways have turned into rest stops with cafes for drivers to pass the time.
The New York Times reported that the transition is moving quickly. Over the past year, electric vehicles accounted for 76 per cent of all passenger vehicles and half of the light commercial vehicles sold in Nepal.
EV market
Five years ago, that number was essentially zero. The EV market share in Nepal is now behind only those of a few countries, including Norway, Singapore and Ethiopia. The average for all countries was 20 per cent in 2024.
The swift turnover is the result of government policies aimed at leveraging Nepal’s wealth of hydropower, easing dependence on imported fossil fuels and clearing the smog, according to the New York Times.
“For us, using electric vehicles is a comparative advantage,” said Mahesh Bhattarai, the director general of Nepal’s Department of Customs. “It’s good for us. In the global market, the Chinese EVs are expanding. The same is happening in Nepal.”
