Nepal Achieves 76% Electric Vehicle Market Share Amid Global Transition

Nepal has rapidly emerged as a global leader in electric vehicle adoption, with 76% of new passenger cars and 50% of light commercial vehicles sold there being electric, significantly surpassing the global average of 20%. This transition has been driven by Nepal's extensive hydropower resources, smart government policies including reduced import taxes on EVs compared to internal combustion vehicles, and the expansion of charging infrastructure, making EV charging substantially cheaper than gasoline refueling. Chinese electric vehicle manufacturers, especially BYD, have played a crucial role by providing affordable models to Nepal's market, supported by local dealers expanding rapidly. Meanwhile, Norway continues to lead globally with nearly 89% of new car sales being fully electric in 2024, propelled by high taxes on fossil fuel vehicles and a wide range of incentives, including subsidies and access to bus lanes, alongside a robust network of fast chargers. Norway aims for an entirely emissions-free new vehicle fleet by 2025, with battery-electric cars dominating sales and Chinese EVs gaining a foothold. Both countries illustrate how a combination of natural resources, government policy, and market dynamics can accelerate the shift to electric mobility.