After the government changed how electric vehicles are taxed in Nepal, car companies have been quick to update their prices. Some models are now more expensive, while at least one has actually become cheaper.
So far, importers of five EV brands have officially announced new prices following the budget announcement.
Which Cars Got More Expensive?
MG S6 — Paramount Motors, which brings in MG vehicles, has raised the price of the MG S6 from Rs. 69 lakh 99 thousand to Rs. 72 lakh 99 thousand. That is a Rs. 3 lakh increase.
iCar V23 and J6T — SPG Auto has revised prices for two models. The iCar V23 went up from Rs. 50 lakh 99 thousand to Rs. 53 lakh 99 thousand, again a Rs. 3 lakh rise. The J6T saw a smaller increase of Rs. 1 lakh, moving from Rs. 68 lakh 99 thousand to Rs. 69 lakh 99 thousand.
Geely EX5 Max and EX5 Pro — LRR Motors, the importer for Geely EVs, raised the EX5 Max by Rs. 3 lakh, from Rs. 70 lakh to Rs. 73 lakh. The EX5 Pro went up by Rs. 2 lakh, now priced at Rs. 62 lakh instead of Rs. 60 lakh.
One Model Actually Got Cheaper
Not every brand raised its price. Sangri-la Motors reduced the price of the Leapmotor B10 SUV by Rs. 5 lakh in one go. It was priced at Rs. 59 lakh 99 thousand before, and now it sits at Rs. 54 lakh 99 thousand 999. That is a notable drop for anyone looking at this model.
Why Are Prices Changing at All?
Until recently, the tax on imported electric vehicles was calculated based on battery capacity in kilowatts. Finance Minister Dr. Swarneem Wagle scrapped that system through the new budget and replaced it with a value-based charge called the Clean Infrastructure Investment Fee.
Under the new system, the tax rate depends on the customs value of the vehicle:
- Up to Rs. 20 lakh: 2.5%
- Rs. 20 lakh to Rs. 30 lakh: 20%
- Rs. 30 lakh to Rs. 40 lakh: 35%
- Rs. 40 lakh to Rs. 50 lakh: 90%
- Above Rs. 50 lakh: 130%
As you can see, the tax jumps sharply for higher-priced vehicles. Most of the EVs currently available in Nepal fall in the upper ranges, which is why many companies have had to raise their prices. The Leapmotor B10 dropping in price suggests it may have landed in a more favorable tax bracket under the new structure.
What This Means for Buyers
If you are planning to buy an EV in Nepal, it is worth comparing prices carefully right now. The market is still adjusting, and more companies may announce price changes in the coming days. Budget-friendly models in the lower customs value range will attract far less tax, while premium vehicles will cost noticeably more than before.
Keep an eye on official announcements from importers before making any purchase decisions.