Core Insights - The electric vehicle (EV) market in Nepal is rapidly growing, with Chinese brands dominating the market share, accounting for approximately 79.86% of the total EV sales [1][5][8] - The proportion of electric vehicles among all imported four-wheeled passenger cars in Nepal is projected to reach 73% in the fiscal year 2024-2025, making it one of the highest globally [1][5][8] - The competition between Chinese and Indian electric vehicle manufacturers is intensifying, as evidenced by the recent auto show in Kathmandu, which showcased numerous attractive offers [2][5] Market Dynamics - In the previous fiscal year, Nepal imported 16,701 electric vehicles, with a total value of 41.23 billion Nepalese Rupees, reflecting a year-on-year growth of 23.33% in electric vehicle imports [5][6] - The overall import of four-wheeled vehicles in Nepal increased by 27.04%, indicating a strong demand for vehicles in general [5][6] - Five years ago, the market was significantly different, with only 236 electric vehicles imported in the fiscal year 2019-2020, valued at 674 million Nepalese Rupees [6][7] Brand Performance - BYD has emerged as one of the best-selling electric vehicle brands in Nepal, with its Atto 1 model priced at 2.89 million Nepalese Rupees attracting significant attention at the auto show [4][8] - The Zeekr X, a luxury electric vehicle from China, has also gained traction, with over 50 units sold in its first year in Nepal [5][8] - The Tata Nexon, an Indian electric vehicle, was previously popular among consumers, but the entry of Chinese brands has shifted market dynamics [6][8] Consumer Trends - There is a notable increase in female consumers in the electric vehicle market, with women accounting for approximately 40% of buyers for certain BYD models [8] - The growing acceptance of electric vehicles among Nepali consumers is attributed to improved infrastructure and increased competition, which has raised customer expectations [8][9] Government and Economic Context - The Nepali government is actively seeking to reduce reliance on imported fossil fuels and improve air quality, with electric vehicles playing a crucial role in this strategy [8][9] - The customs data indicates that nearly 70% of the electric vehicles imported into Nepal last year were from China, highlighting the significant influence of Chinese manufacturers in the market [8][9]
“中国品牌主导尼泊尔电动汽车市场,印度落后了”