Hyundai Nepal Focuses On The Development Of Electric Vehicle Infrastructure.

Building EV Charging Station In Nepal.

Lakshmi Intercontinental Pvt Ltd., the official distributor of Hyundai vehicles, was the first to bring premium electric cars to Nepal.

Hyundai is the world’s 5th largest car manufacturer,

Lakshmi Intercontinental Pvt Ltd. is serving customers through 13 showrooms and 17 service centers across Nepal.

The company had succeeded in winning the hearts of Electric Vehicle lovers in the Nepali market by bringing its Kona crossover and Ionic in the auto market.

Within a short time of entering the Nepali market, both these models had succeeded in establishing a good position in the automobile industry with a positive impression.

ALSO READ| Two New EV Cars- Hyundai Ioniq 5 & KIA EV6 Coming Soon In Nepal.

When the slogan ‘The future of automobiles is electric vehicles‘ is being chanted in Nepal and all the major car manufacturers and auto giants in the world, the Hyundai company has also taken the lead in selling its products building the necessary infrastructure.

The government of Nepal has revised the tax rate increased by the previous budget to sell fully electric vehicles in 10 years. Still, now the market for electric cars is expected to expand.

Hyundai has also prepared a strategic plan to win over it.

The Kona crossover SUV that the company is currently selling is available in two battery options.

The company has set Rs 56.96 lakh for a 39.2-kilowatt-hour battery and a 100-kilowatt capacity motor.

In contrast, it has developed a price of Rs 71.96 lakhs for a 150-kilowatt-hour motor and a 64-kilowatt-hour battery.

The company has priced the Ionic sedan at Rs 57.96 lakhs.

Hyundai Nepal has set up 21 charging stations in different parts of the country, targeting customers traveling with these electric vehicles.

The company has also made arrangements for free charging of Hyundai electric vehicles in these places.

Customers have to pay for charging other brands of vehicles.

They have built charging stations at Kupandol, Tinkune, Pulchowk, Sinamangal, Naxal, and Thapathali in Kathmandu.

There are five charging stations in Pokhara, Bhairahawa, Butwal, Nepalgunj, Dhangadhi, Birgunj, Biratnagar, Itahari, Bharatpur and Birtamod.

Company reported that decisions are being made to build more charging stations keeping in view the current need to increase the construction of charging stations and the sale of vehicles.

Now Let Us Know The Exact Tax Structure Of Electric Vehicles In Nepal.

Buyers are now more focused on buying EV than ever before. Even though the EV market is rapidly growing in the Nepali market, we still have no idea when it will reach its full potential.

To realize that potential as rapidly as possible, the Nepalese government has introduced several incentives to help boost the electric vehicle market.

Among the more well-known incentives were generous import tax penalties and an annual road tax exemption.

Those incentives, however, were repealed in Budget 2077/78. Any further developments in the EV sector in Nepal have come to a halt due to this.

Later that fiscal year, the contentious tax increases were revised. Budget 2078/79 offered more favorable taxation in the hopes of reviving the electric vehicle trend.

The positive consequences are being recognized, particularly with the growing interest in the electric vehicle market.

As a result, more individuals are curious about the essential aspects of Nepal’s Electric Vehicle Tax Structure.

Taxation in the Post-Budget Period 2077/78

• Distributor Profit: 15-20%
• VAT = 13%
• RDT = 5%

After Budget 2078/79, Taxation Has changed & Improved.

Different tax rates based on peak powers will continue to be implemented in Budget 2078/79.

Overall, the policies are now more laid-back and accommodating.

• Distributor Profit: 15-20%
• VAT = 13%,
• RDT = 5%

Yearly Road Tax For Four-Wheeler Electric Vehicles

Despite improvements in taxes, Nepal’s Electric Vehicle Yearly Road Tax remains mandatory.

The four-wheeler EV Yearly Road Tax remained unaltered in the current Budget 2078/79.

And here is the Nepalese Electric Tax on Two-Wheeled Vehicles.

People were entitled to expect a price reduction on electric two-wheelers given recent substantial price changes in EV items.

But, unlike electric four-wheelers, the taxation of electric two-wheelers has remained relatively unchanged.

Yearly Electric Vehicle Road Tax for Two-Wheelers

The two-wheeler EV Yearly Road Tax is unchanged in the current Budget 2078/79.