Price list: 6 best electric vehicles in Nepal in the budget category

The market for electric vehicles in Nepal saw a major decline last year when the then Finance Minister Yuba Raj Khatiwada announced 30-80 per cent excise duties and 60 per cent customs duty on the EVs during the budget announcement for the fiscal year 2020/21 . The import of EVs fell drastically and so did the market. The decision was also widely criticised back then.

But, this year, the government seems to have realised its mistake and in the budget announcement for the current fiscal year that began mid-July 2021, the government has decided to waive excise duties completely and impose customs duty down up to 10 per cent. The renewal and road taxes will also be waived for five years if an existing petroleum vehicle owner switches to a battery-powered vehicle.