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Nepal imported 7,967 units of electric cars, jeeps and vans worth Rs 18.62bn over the first nine months of fiscal year 2024/25. This surge, generating Rs 11.47bn in government revenue, underscores EVs’ rising popularity in the country, driven by favorable policies, environmental goals and economic incentives.

Foreign trade data for the first nine months of 2024/25, unveiled recently by the Department of Customs (DoC) shows, over 50 percent of imports, or 4,414 units, fell in the 51-100 kW motor capacity range which is ideal for Nepal’s urban and semi-rural roads. Smaller EVs (up to 50 kW) accounted for 2,783 units, while 742 units were in the 101-200 kW capacity range. Likewise, 17 units were in 201-300 kW motor capacity range and tow had capacity in excess of 300 kW.

China dominated Nepal’s EV market, supplying 74.08 percent of total imports of the country in the review period. EVs worth of Rs 14.49bn were imported form the northern neighbor in the review period, with brands like BYD and Dongfeng leading due to competitive pricing and advanced features. India follows with 2,023 units, or a market share of 25.39 percent, bolstered by Tata’s strong presence, as seen with models like the Punch EV. Imports from Germany (31 units), the US (5 units), South Korea (3 units) and Indonesia (3 units) were minimal, underscoring the China-India duopoly in the Nepali EV market.

In 2023/24, Nepal imported a total of 11,701 electric vehicles (EVs) - a growth of a whopping 188.91 percent compared to 2022/23 when 4,050 units of electric cars, jeeps, and vans entered the country. More than a third of total EV imports in 2023/24 came from China. A total of 8,938 EVs units came from China and remaining 2,763 from other countries. The total import value of these EVs was Rs 29.48bn.

The EV boom in Nepal aligns with Nepal’s Nationally Determined Contributions (NDC) which targets to increase the share of EVs in private passenger vehicles to 25 percent by 2025 and 90 percent by 2030. Lower import duties, which are 15-80 percent for EVs and over 240 percent for those powered by fossil fuel, and the availability of affordable cars loaded with advanced technologies have fueled demand for EV in Nepal. 

The growing EV adoption is gradually reducing reliance on costly oil imports. Data shows Nepal saved Rs 11.07bn in 2023/24 due to a decline in the import of petroleum products.

Japan's manufacturing sector fell for the ninth consecutive month in April, with the au Jibun Bank flash PMI climbing to 48.5 from 48.4 in March.

According to Reuters, new orders decreased substantially, and company confidence dropped to its lowest level since June 2020 due to US tariff concerns.

Meanwhile, the services sector recovered modestly, with the PMI rising to 52.2 from 50.0, boosted by better demand and the largest increase in sales in three months.

Reuters reported that the composite PMI, which combines both sectors, bounced back to growth at 51.1, up from 48.9 in March.

As input costs increased at the quickest rate in two years, businesses raised their selling prices. Japan's economy is nonetheless hampered by persistent inflation and unclear trade policy.

The identity of a Nepali man who was killed in a terrorist attack in Pahalgam, Kashmir has been ascertained.

It has been confirmed that Sudip Neupane of Butwal lost his life in the terrorist attack that took place in Pahalgam, South Kashmir on Tuesday.

Butwal Sub-Metropolitan City-14 ward Chairman Dadhiram Neupane confirmed that 27-year-old Neupane died in the attack.

According to ward Chairman Neupane, Sudip had gone to visit Kashmir with his family on Saturday.

Preparations are underway to bring the lifeless body of Neupane to Nepal, he informed. Other members of the family are safe.

Twenty-seven persons including a Nepali national died and several others were injured in the terrorist attack that occured at 3 pm yesterday.  Those killed in the terrorist attack in Pahalgam were mostly tourists.

The Lashkar-e-Taiba group has claimed responsibility for the attack.

It has been learnt that two locals were also killed in the incident.

After receiving the information about the attack, Prime Minister Narendra Modi, who is on a two-day official visit to Saudi Arabia, is returning to India.

Ukrainian President Zelensky has claimed Chinese nationals are working at a Russian drone facility and suggested Moscow may have obtained Chinese drone technology without Beijing’s knowledge, according to Al Jazeera.

This follows his prior assertion that China is supplying Russia with weapons and gunpowder, which Beijing rejects. Ukraine's foreign ministry summoned the Chinese ambassador to express alarm over China's potential involvement in the fighting, Al Jazeera reported.

Zelensky also claimed that Russia is recruiting Chinese nationals to fight, with Kyiv investigating possible links to Chinese authorities.
China and Russia declared a "no limits" partnership shortly prior to the 2022 invasion of Ukraine.

Foreign Minister Arzu Rana Deuba said that the Nepal government was deeply shocked and saddened by the heinous terrorist attack that took place in Pahalgam, Kashmir.

Taking to the social networking site X, the Foreign Minister strongly condemned this act of terrorism and the senseless violence that has claimed innocent lives.

"Our thoughts and prayers are with the victims and their families during this difficult time, and we wish a swift and full recovery of those injured in the incident", she said.

Nepal stands in steadfast solidarity with the Government and people of India in this time of sorrow, the minister noted.

"We are currently verifying reports regarding the possible loss of any Nepali nationals in this tragic incident. Further updates will be provided as more information becomes available", Minister Rana said.  

Three persons died when a mini-truck they were traveling in met with an accident at Golden in Joraya Rural Municipality-1 in Doti along the Bhimdutta Highway on Wednesday.

District Police Office Chief Binod Sharma said that three persons, including driver Arjun Dhami died in the incident.

He said that the vehicle (Su Pa Pra 01001 Kha 3428) was heading towards Bajhang from Dhangadhi when the tragedy occurred this morning.  

The identities of the deceased are yet to be established.

Pakistan’s Foreign Ministry expressed concern over the terror attack in Pahalgam, Anantnag district of Jammu and Kashmir that claimed 26 lives, mostly tourists. A spokesperson conveyed condolences to the victims’ families and wished a speedy recovery for the injured, Firstpost reported.

Earlier, Pakistan’s Defence Minister Khawaja Asif distanced the country from the incident, stating, “We have absolutely nothing to do with it. We reject terrorism in all its forms and everywhere.” He attributed the attack to local dissent and what he called “homegrown forces” in the region, as stated by Firstpost.

The Resistance Front (TRF), an outfit affiliated with Lashkar-e-Taiba (LeT), claimed responsibility for the April 22 afternoon attack.

Meanwhile, the bodies of the victims had been brought to Srinagar on wednesday. Amit Shah, the Union Home Minister, who arrived in the city shortly after the incident, paid tribute by placing flowers on the coffins at the Police Control Room.

The price of gold has dropped by Rs 7, 500 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 190, 400 per tola today. It was traded at Rs 197, 900 per tola on Tuesday.

Similarly, the price of silver has dropped by Rs 5 and is being traded at Rs 1,965 per tola today.