Cimex Inc, the authorized distributor of BYD vehicles in Nepal, has generated revenue of Rs 11.47 billion in 2025, establishing itself as a key player in the country’s rapidly expanding electric vehicle (EV) market.

According to the company, the revenue figure stands at Rs 11.47 billion in 2025, marking a decline of around 30 percent, or Rs 4.92 billion, compared to the previous year. Cimex Inc had recorded revenue of Rs 16.40 billion in 2024.

Despite the year-on-year decline, the company’s overall growth trajectory remains strong. Cimex Inc reported revenue of Rs 6.9 million in 2021, which increased to Rs 441 million in 2022 and further to Rs 1.91 billion in 2023, reflecting a rapid expansion in a short span of time.

Amid intensifying competition in Nepal’s automobile sector, Cimex Inc has been able to secure a strong foothold, particularly in the EV segment. The company said nearly 90 percent of its total revenue is generated from BYD Auto-3 and Dolphin models, which have emerged as its top-selling vehicles in the domestic market.

Cimex Inc has recently launched lower-priced EV models under the Auto-1 and Auto-2 segments, a move the company expects will further boost sales and revenue in the coming period as demand for affordable electric vehicles rises.

Established in July 2016, Cimex Inc Pvt Ltd has been distributing BYD-branded passenger and commercial vehicles in Nepal. The company has positioned itself as a major promoter of electric mobility, leveraging growing policy support for EVs and increasing consumer interest in clean transportation.

The company currently operates 14 dealership outlets across major cities in Nepal. In addition, it has installed and operates 64 EV charging stations nationwide to support the expansion of electric vehicle usage.

In terms of ownership, 50.5 percent of Cimex Inc’s shares are held by Yamuna Shrestha, while the remaining 49.5 percent is owned by her brother, Anil Shrestha.

Cimex Inc has also increased its borrowing from banks and financial institutions. The company has taken loans totaling Rs 4.45 billion, up from Rs 3 billion in the previous year, reflecting its expanding operational scale and investment in market growth.