Nepal has witnessed a significant surge in the import of electric vehicles (EVs) during the first 10 months of the current fiscal year 2024/25, driven by increasing demand and anticipated changes in customs policies.

According to the statistics of the Department of Customs, about 9,850 four-wheeler electric vehicles (car, jeeps and vans) worth Rs. 23.09 billion have been imported during the period form mid-July 2024 to mid-May 2025 of the current fiscal year.

The import of four-wheeler electric vehicles in terms of quantity has increased by 16 per cent during the review period as compared to same period last fiscal year 2023/24.

Around 8,497 four-wheeler electric vehicles worth Rs. 21.08 billion had been imported during the first 10 months of the last fiscal year.

Out of the total EV imported in the first 10 months of the current fiscal year, 1,892 electric vehicles, including cars, vans and jeeps were imported in the month of Baishakh (mid-April to mid-May) alone.

Similarly, 878 electric vehicles were imported into Nepal in the month of Chaitra (mid-March to mid-April) of the current fiscal year.

Traders have significantly increased the imports of electric vehicles in recent months, anticipating that the government will increase customs duties on electric vehicle imports through the budget for the upcoming fiscal year.

The government is scheduled to present the fiscal budget for the upcoming fiscal year 2025/26 in the Federal Parliament on May 29 this year.

In the meantime, a total of nine four-wheeler unassembled electric vehicles capacity up to 50 KW worth Rs. 6.4 million have been imported during the review period.

Similarly, the country has imported 8,587 three-wheeler electric vehicles worth Rs. 900 million in the first 10 months of the current fiscal year.

Likewise, a total of 5,487 unassembled electric three-wheeler vehicles have entered in the country during the review period.

The government has collected customs revenue of Rs. 14.73 billion while importing these four-wheeler and three-wheeler electric vehicles during the review period.

The capacity of most imported electric vehicles ranges between 51 kW to 100 kW. A total of 5,534 electric vehicles with the capacity of 51 kW to 100 kW have been imported during the review period.

Similarly, a total of 3,369 electric vehicles with motor power up to 50 kW have been imported. The number of electric vehicles with more than 101 kW to 200 kW motor power is 927 and above 201 kW is 18.

During the review period of the current fiscal year, most of the electric vehicles imported into Nepal are Chinese.

Of 9,850, a total of 7,344 electric vehicles have been brought from China in the first 10 months of the current fiscal year. This is 74.5 per cent of total import of electric vehicles.

According to the Department, around 2,411 electric vehicles were imported from India, 50 four-wheeler electric vehicles from Malaysia, 30 electric vehicles from Germany, six from United States of America, and four from South Korea and three from Indonesia during the review period.

The import of electric vehicles has been growing in the country for the last three years after the government adopted the policy in custom subsidy to promote it.

According to the statistics, the country imported 11,701 electric vehicles (cars, jeeps and vans) worth Rs. 29.5 billion in the last fiscal year 2023/24.

Similarly, in the fiscal year 2020/21, a total of 249 four-wheel electric vehicles (cars, jeeps) were imported while 1,800 four-wheeler electric vehicles (cars, jeeps) were imported in the fiscal year 2021/22 and 4,050 in the fiscal year 2022/23.