KATHMANDU - Despite the import ban on items branded as luxury goods, including automobiles, the import of electric vehicles has seen an exponential rise, especially in the last fiscal year, 2021-22.
EVs may be the future, but the change has been a long time coming. Unless the prospective buyer is assured that EVs can traverse the same distance currently covered by petrol and diesel cars, it is doubtful that buyers will embrace EVs just on their environmental credentials. There is also the question of affordability for the average buyer. Currently, the average upfront cost of an EV stands at nearly twice that of a fossil fuel vehicle. Still, one can expect the manufacturing costs to water down as the industry matures. But prices in Nepal operate on a different plane altogether.