Production of electric vehicles is likely to start in Koshi Province within a year. Nepali and Korean investors have jointly invested Rs 3 billion in the industry with the objective of producing electric school buses within a year.

The process of finding land for setting up the industry and obtaining approval from the Ministry of Industry is currently under progress. Koshi NK Motors Pvt Ltd had signed an agreement with SDK Motors of Korea in Seoul, Korea, on February 24 to establish an electric vehicle industry in Nepal. The agreement was signed by Tikaram Puri, president of NK Motors, and Daiki Jung, executive chairman of the Korean company.

Puri of Koshi NK Motors Pvt. Ltd., informed us that they are preparing to produce a 22-seater state-of-the-art school bus in the first phase. Based on the demand, the target is to produce about 500 electric school buses initially, he said. Puri said that the company will also produce school buses, public buses, microbuses and electric cars.

According to him, the electric vehicle produced by the company will be 30 per cent cheaper than diesel and petrol-powered vehicles. Likewise, it is estimated that the operating expenses of electric vehicles produced by the company will be lower compared to other EVs.

NK Motors Managing Director TR Dhakal said that according to the agreement, electric vehicles based on Korean technology will be produced with a joint investment of about Rs 3 billion.

"For that, we are working to find land to set up a plant in one of the districts among Sunsari and Morang," Dhakal said.

Puri said that the aim is to sell the vehicles produced in Nepal in India, Bangladesh and Bhutan.

He said that billions are being spent abroad on fuel imports from Nepal while the country is becoming self-sufficient in electricity. In this context, electric vehicles that are cheap and environment-friendly can help in consuming domestic electricity.

Puri informed that the technicians of the Korean company will come to Nepal within March to select the location of the industry, and then other processes will proceed ahead. He said that since it is a plan that Koshi province can be proud of, he expects the support of the state government and the federal government.

An agreement has been signed to bring the chassis, battery and motor from Korea and build the body structure here. Puri said, "Made in Nepal" will be written on the vehicle even if goods are brought from Korea.”