EV imports plunge as northern border closures disrupt trade with China
Summary
Nepal's electric vehicle imports have dropped over 24% in the first five months of the fiscal year due to closures of key northern border points with China, the primary trade route for EVs.
Key Points
- Nepal's EV imports fell by 24.51% in the first five months of the current fiscal year compared to last year.
- China is the largest source of EV imports to Nepal, accounting for 3,115 units worth Rs7.76 billion.
- Kerung and Korala border points with China remain closed, greatly disrupting EV imports.
- Imports of combustion engine vehicles increased by 55% in the same period, opposite to the EV trend.
