Chinese firm form JV in Nepal to produce EV

KATHMANDU: Chinese company Xiamen Golden Dragon Auto Body Co Ltd is setting up a plant to produce electric vehicles in Biratnagar.

The Chinese company has partnered with Koshi NK Motors to start production of EV in Nepal.

The two companies signed the investment agreement to this end in China. They are putting in an initial investment of Rs 3 billion in the joint venture.

The venture has procured 14 bighas of land in Biratnagar and plans to begin production within a year.

Koshi NK Motors had earlier signed an agreement with SDK Motors of Korea to start EV production in Biratnagar. It had announced plans to produce 22-seater electric school buses.