Mahendranagar: Nepal's electric vehicle market is buzzing with activity, particularly in the month of Jestha (May) according to new data from the Customs Department. This surge comes amidst rumors of a potential customs duty hike on electric cars, jeeps, and vans in the upcoming budget. The data reveals a significant jump in imports during Jestha, with a staggering 1,089 electric vehicles entering the country. This represents nearly a third of the total imports for the entire 11-month period ending Jestha.

The total number of imported electric vehicles in Nepal now sits at over 6,885, with a combined value exceeding Rs. 19.6 billion. This significant growth indicates a rising demand for electric vehicles in Nepal.

However, a potential storm cloud looms on the horizon. The Economic Bill 2080 proposes a tiered increase in customs duties based on motor capacity for electric vehicles. This could make electric vehicles more expensive and potentially dampen future import numbers.

The timing of the import surge and the proposed duty hike has led some to suspect a leak of the information. This could explain the concentrated import activity in Jestha, as buyers aimed to import vehicles before the potential duty increase takes effect.

The final decision on customs duty changes will be revealed in the upcoming budget announcement. This news will be critical for both potential electric vehicle buyers and businesses involved in the import and sale of these vehicles in Nepal. The outcome will determine the future trajectory of Nepal's electric vehicle market.