KATHMANDU: Nepal imported electric vehicles worth Rs 17.84 billion in the first seven months of the fiscal year 2023/24.
Data released by the Department of Customs shows that the share of EVs in the country’s total motor vehicle imports in the review period was nearly 60%. Motor vehicles worth Rs 30.37 billion were imported into the country in the seven-month period.
Although the share of EV imports is higher compared to internal combustion engine (ICE) vehicles, the government mobilized more revenue from the import of ICE vehicles.
According to the department, it mobilized Rs 7.43 billion as customs duty from EV imports. Revenue from the import of ICE vehicles was Rs 17.57 billion during the review period.
In the seventh month (mid-Jan to mid-Feb) of the fiscal year alone, 1,142 units of EVs (cars, jeeps, and vans) were imported into the country.
During the seven-month period, the country imported 524 electric buses and microbuses worth Rs 1.5 billion and 5,486 two-wheelers worth Rs 523 million. Likewise, 5,797 electric three-wheelers and parts of 1,529 three-wheelers (for assembling purposes) were also imported into the country during the seven-month period.
Among ICE vehicles, the country imported Rs 4.32 billion worth of cars, jeeps, and vans during the period. A total of 3,758 units of ICE vehicles were imported into the country during the seven-month period. Likewise, 69,947 two-wheelers worth Rs 8.19 billion were imported into the country in the review period.
Himal Press
21 Feb 2024
