The Future Of EV In Nepal In Nepal, we are still in the early stages of the EV revolution. The government has also been trying to control the emission by introducing electric vehicles. The government is now putting in place incentives to encourage car buyers to go electric. Nepal is the perfect country to test out the future of electric vehicles. Nowadays, Electric Vehicle (EV) is a trending topic in Nepal. EVs are creating a sensational buzz in the automobile market not only in the world but also in Nepal. In the last few years, its popularity is getting high on the graph. The trend of the electric vehicle started in Nepal from the year 1996 in which three-wheeler electric Tempo(Tuk-tuk) was bought for a shorter distance route. In those times EV was not that so popular and there was the thinking among people that EVs are only for a short distance, have low power batteries, and many more which was quite true in that context.
In the fiscal year 076/77, the then Finance Minister Yubraj Khatiwoda announced that the government is going to increase the tax format on EV in the budget announcement program. He gave the clarification telling that EV is also considered a luxury item and it would help the government to increase revenue to fight against covid. But government's this policy was highly criticized and EV lovers even organized the Birod Program against this government's newly adopted policy. As per the budget announcement, the excise duty was increased up to (30%-80%), customs duty up to 80%, and income tax between 120%-180%. After the adoption of this policy, the price of Morris Garage's MG ZS EV which the previous price was about 50 lakhs was increased to 80-90 lakhs. There was a similar case to the import of other EVs. But luckily their import in the EV was decreased drastically in the last fiscal year which forced the government to make changes in its policy in this fiscal year.
As per budget oration 078/79
But in this current fiscal year 078/79 the government has corrected its mistakes and has given high priority to the promotion and expansion of EV in Nepal. Finance Minister Bishnu Paudel had announced that the government is decreased the taxation format on EV and other electronic items, the development of charging stations, and many more. He also announced that there would be no excise duty charged in EV. It's good news for all those EV lovers. Similarly, the import tax is also reduced and is divided into four categories as shown in the image below.
An additional 13% VAT and 5% RDF would be charged in an electric vehicle which is in general. It would decrease the cost of electric vehicles as similar to the cost before the 76/77 policy which is a very appreciating thing done by the government.
Expansion of Charging Station
Generally, people used to charge EVs at their home in our country which takes a lot more time and people generally avoid long-distance travel with EVs having low battery capacity. It is all due to the lack of a charging station in Nepal. But in the budget oration, the government has announced to establish 50 charging stations in different major cities and highways in the first phase. It has a separated 38.8 crore budget for the expansion of the charging station. Out of 50 stations, 5 are going to establish in province no 1, 7 in province no.2, 20 in Bagmati province(7 inside valley),6 in Gandaki province,8 in Lumbini province,1 in Karnali province, and 3 in Sudur Paschim Province. One charging station has a capacity of 143 kW power and 50 KVA transfer and can charge three-vehicle at a time.
The Nepal Electricity Authority has also issued a charging cost list. It is as shown in the image below.
Payment should be made through an online medium and each station would have a facility of QR code scanner. A huge credit of all these government policies giving priority to electronic items and EV should be given to Upper Tamakoshi Hydropower(456 MW) which is almost about to complete. Additionally, the government has invited ten different EV companies to establish their branch in Nepal promising to give different facilities including free land resources in their production and assembling process. By all these government policies, efforts, and growing popularity of EVs we can easily predict that EV has a great possibility and wider market in Nepal in the coming future.
Electric vehicles are the future of transportation! They're more affordable and environmentally friendly than gas-powered cars, which is why we're seeing more and more of them. And it's not just good for the environment but also for mankind. Electric Vehicles are in an experimental phase and have not seen wide-scale adoption yet in Nepal. The government is investing in this new technology, and the public too. It's just a matter of time before we see these vehicles all over Nepal. While adopting Electric Vehicles, it is obvious that the country will be able to stop or reduce the emission of air pollutants. The number of Electric Vehicles in the country is increasing gradually. So, the future of Electric Vehicle in Nepal seems very positive.
Post a Comment