The recently budget tabled for FY 2078/79, has introduced regulations regarding the import of EVs in Nepal. The government has decided to revise the duties.

This opens up exciting opportunities specially for those who want to buy EVs in  Nepal.

In same context REVIEWS exclusively talked with Saurav Shrestha VP, theeGO Group authorised distributors of theeGO brand Electric Vehicles in Nepal to gain new insights.

What are your thoughts on the government's plan to replace lightweight fuel-supported vehicles with EVs by BS 2088?

The world has accepted that EVs are the future and are moving towards its adoption. In this context, this is really a revolutionary decision to replace gasoline lightweight vehicles by 2088. We genuinely think it will transform Nepal and put us at par with some developed nations who have similar aggressive policies.

In fact, the benefit we are going to have with this policy is unparalleled in terms of environment, economy and energy dependency. 

How do you think this policy will impact the adoption rate of EVs?

This kind of policy from the government will surely give huge confidence to the general people and at the same time, the plan to build required infrastructure and EV eco system definitely makes sense to buy EV over vehicles with fossil fuel.

Lowering tax on EV’s means it is going to be a better decision economically too. Hence we could see exponential growth in EV’s adoption in the near future. 

Many Customers still consider EVs as the 2nd option while purchasing a vehicle. What are your thoughts on this?

It does appear that way in the market, however there have been increasing inquiries and buyers who adopt EVs as their primary vehicle.Main reasons behind this basically, are lack of understanding of own requirements and definitely some limitations in EVs such as range, unavailability of Charger network and infrastructure to be assured of maintenance Incase of any failure. 

What are your plans in expanding the charging station network within the valley and outside the valley?

We have already begun installing charging stations inside and outside the valley. We have installed chargers at Mulkot and Sindhuli outside the valley and in Jadibuti inside the valley.

We are also planning to install more chargers in strategic locations inside and outside the valley, especially targeting the commercial vehicles operating on intra city routes.

What else do you think that the government should do to promote Evs in Nepal?

The government is going in the right direction as seen in the recent budget not just with the reduction in duties but also plans for conversion of petrol and diesel vehicles to Electric, operating EVs for public transportation and with the plan to expand the charging network.

The adoption of EVs could be even quicker if the government provides further incentives for adoption for public vehicles such as in the form of subsidies.

This will result in a much larger population having access to Electric Vehicles. The problem of air pollution and the trade deficit due to fuel import can be addressed much quicker and at a larger scale with such incentives.Moreover, policy stability is very important and formulation of acts based on the announced policy is equally important too. 

Also Read:

NEPAL BUDGET FY 2078/79: ALLOCATION FOR TECHNOLOGY, INNOVATION, FINTECH SECTOR

POCO LAUNCHES THE POCO M3 IN NEPAL: SPECS, PRICE AND AVAILABILITY

IPHONE SE 3 LAUNCH: SPECS, FEATURES, DESIGN

MOBILE DEVICE MANAGEMENT SYSTEM (MDMS) TO GO LIVE FROM SHRAWAN 1

SAMSUNG GALAXY TAB S8 SERIES LEAKS ONLINE: BIG PRICES FOR BIG FEATURES

 

Finance Minister, Bishnu Poudel unveiled the budget for fiscal year 2078/79 of total Rs 16,47,57,00,000 yesterday. Following are the highlights from the budget related to auto and transport sector of Nepal:  

• All the vehicles registered within the country will be provided with an embossed number that includes radio frequency identification, GPS service to be regulated to cargo and other vehicles.

• E-ticketing services to be introduced to public transportation.

• Minimum of 100 electric buses to operate in Kathmandu through Sajha Yatayat 

• The local administration in major cities will be provided extra aids in order to operate big sized electric bus for public

• To increase and promote the usage of electric vehicles, 500 charging stations, terminal buildings and other necessary infrastructures to be built all across the country. 

• Excise duty tax on import of electric vehicles has been cancelled, previously 30% excise duty was applicable for EVs with a capacity of 50 KW, and 40% for 51 to 100 KW, 50% for 101 to 150 KW and 60 to 80% for 151 KW and above 

• Custom duty for EVs have also been deducted to a maximum of 40% which was 60% in the last year’s budget.

• Excise duty for imports of tires has also been reduced from 20% to 10%.

• For the preservation of the environment, the government has planned to replace lightweight fuel supported vehicles with EVs by BS 2088.

• 40% excise duty to be charged for both hybrid and plug-in hybrid vehicles, previously hybrid cars needed to pay 60%.

• The government is planning to bring 10 international EV manufacturing companies to Nepal

• Production of auxiliary materials for vehicles to be done within the country, the land necessary for such production companies to be leased by the government for free.

Also Read:

BUDGET 2021/22: EXCISE DUTIES ON EVS REMOVED

SOCIAL MEDIA TO NOW LET USERS HIDE ‘LIKE’ COUNTS

CELLPAY INTRODUCES NEW WALLET | MERO WALLET WITH NEW UI, CELLPAY KART AND EXCITING OFFER

XIAOMI TAKES STUDIO-GRADE CAMERA FEATURES AND PRO PERFORMANCE A NOTCH HIGHER WITH MI 11

DOCTORLIVE24, AN INNOVATIVE TELEMEDICINE APP | REAL TIME VIDEO CONSULTATION FOR COVID-19 PATIENTS