New Budget Changes EV Prices in Nepal: Which Cars Got Cheaper and Which Got Costlier

Nepal’s electric vehicle market has gone through a quiet shake-up after the government rolled out the budget for fiscal year 2083/84. The reason is a single change in tax policy, but its effect on car prices has been huge.

Until now, EV tax in Nepal was based on motor power, measured in kilowatts (kW). A car with a stronger motor paid more tax, no matter how cheap or expensive the vehicle actually was. The new budget scraps this system. Tax is now calculated on the CIF value of the vehicle, which means Cost, Insurance, and Freight combined. In simple terms, this is the price of the car at the time it lands in Nepal, before local taxes are added.

This shift sounds technical, but its real-world impact is simple to see. Cars that have powerful motors but a lower import price have become cheaper. On the other hand, premium and luxury EVs with a high import price, even if their motors are not the most powerful, have become a lot more expensive.

Several car companies in Nepal have already released updated price lists since the budget came into effect. Here is what has changed so far.

EV Price Comparison Table: Before and After the Budget

EVs That Have Become Cheaper

Skywell BE11 has gained the most from this new system. It has a 150 kW motor, which used to push it into a high tax bracket under the old rule. Now that tax depends on price instead of power, this car falls into a much lower tax group.

The price drop shows clearly across all three battery variants. The 52 kWh version has dropped from Rs 79.90 lakh to Rs 65.90 lakh, a cut of Rs 14 lakh. The 72 kWh version is down from Rs 89.90 lakh to Rs 74.90 lakh, saving buyers Rs 15 lakh. The long-range 85.9 kWh variant has seen the biggest cut, falling from Rs 1.15 crore to Rs 99 lakh, which is Rs 16 lakh less than before.

Leapmotor B10 is another model that benefits from the new rule. It runs on a 160 kW motor, which earlier placed it in a costly tax slab. After the change, its price has dropped from Rs 60 lakh to Rs 55 lakh, a saving of Rs 5 lakh. The company expects this price cut to bring in more buyers.

Suzuki e-Vitara, the brand’s first electric SUV, has also become more affordable. The base variant now costs Rs 48.99 lakh, down from Rs 52.99 lakh. The top variant has dropped from Rs 64.49 lakh to Rs 59.49 lakh. Across both variants, buyers are saving close to Rs 5 lakh.

EVs That Have Become More Expensive

BMW iX1 has taken the hardest hit from the new tax rule, and by a wide margin. Before the budget, this luxury EV was priced at Rs 1.9996 crore. It now costs Rs 3.2996 crore, a jump of about Rs 1.30 crore. Under the old system, its motor power placed it in a mid-range tax slab. Under the new price-based system, it falls into the highest tax bracket there is, which explains the steep rise.

Changan Deepal S05 has also gone up in price. The Plus variant now costs Rs 57.99 lakh, up from Rs 53.99 lakh, an increase of Rs 4 lakh. The Max variant has risen from Rs 59.99 lakh to Rs 62.99 lakh, up by Rs 3 lakh. This model has decent demand in the Nepali market, so the price hike will likely be felt by quite a few buyers.

Omoda & Jaecoo iCAR V23, an off-road style electric SUV, now costs Rs 54 lakh, up from Rs 51 lakh before the budget. That is a rise of Rs 3 lakh. Dealers say demand for this model has stayed steady despite the price increase.

Geely EX5, which runs on a 160 kW motor, has gone up across both its variants. The base trim has moved from Rs 57.99 lakh to around Rs 62 lakh, while the top trim has gone from Rs 67.99 lakh to about Rs 73 lakh. Depending on the variant, the price increase ranges between Rs 4 lakh and Rs 5 lakh.

MG S6, which was only launched in Nepal just before the budget, has also seen its price rise. Fitted with a 180 kW motor, the car now costs Rs 72 lakh, up from Rs 70 lakh, a rise of Rs 2 lakh.

Omoda J6T has felt comparatively less impact. Its price has gone from Rs 69 lakh to Rs 70 lakh, an increase of just Rs 1 lakh, making it one of the smaller price changes on this list.

MG IM6, the premium EV from MG’s IM sub-brand, now costs Rs 81.99 lakh, up from Rs 78.99 lakh, a rise of Rs 3 lakh. Even though the price has increased, it is a smaller jump compared to other premium EVs in the same segment. The car comes with a 75 kWh battery, a WLTP range of 450 km, a motor that produces 450 Nm of torque, four-wheel steering, automated parking, a 26.3-inch display, and more than 23 ADAS safety features. The company has been marketing it as a value-for-money option in the premium EV space.

Brands Yet to Update Their Prices

Dealers say that BMW’s other models, along with Tesla, Denza N9, Hyundai Ioniq 5, and BYD Sealion, have also gone up in price under the new tax rule. However, these brands have not officially released their updated price lists yet.

A number of other brands have not published revised prices either. This list includes BYD, Tata, Mahindra, Hyundai’s Creta EV, Proton eMas, Kaiyi, Forthing, Smart, Radar, Avatr, Xpeng, and Zeekr. Buyers interested in these brands will need to wait a little longer for clarity on final prices.

What This Means for Buyers

If you are planning to buy an EV in Nepal right now, it helps to know which side of this tax change your preferred car falls on. Mass-market and mid-segment EVs with powerful motors, like the Skywell BE11, Leapmotor B10, and Suzuki e-Vitara, have become noticeably cheaper. Meanwhile, premium and luxury EVs, especially ones like the BMW iX1, are now priced well above what they used to cost.

Since many brands are still finalizing their new price lists, it is worth checking directly with dealers before making a final decision, as more updates are expected in the coming weeks.