Nepal's EV Sales Surge 280% in 2024 — BYD Leads the Charge
Electric vehicle registrations in Nepal crossed 15,000 units in 2024, with BYD capturing over 40% of the market.
Nepal's electric vehicle market has seen explosive growth in 2024, with total EV registrations surpassing 15,000 units — a staggering 280% increase from the previous year.
BYD has emerged as the dominant player, capturing over 40% market share with models like the Atto 3, Dolphin, and e6.
Government Support
The Nepal government's decision to maintain reduced customs duties on EVs (1% compared to up to 238% for ICE vehicles) has been the primary catalyst.
Charging Infrastructure
Charging infrastructure remains the biggest challenge. While Kathmandu Valley has seen rapid growth in charging stations, most highways still lack reliable fast-charging options.
What's Next
Analysts predict EV sales could reach 30,000 units in 2025, potentially making up 40% of all new car sales in Nepal.