Kathmandu: Stakeholders at the NADA Auto Dialogue have urged the government to establish clear standards for electric vehicles (EVs) imported into Nepal, warning that unchecked imports could turn the country into a dumping ground for substandard vehicles.

Speaking at the event, Nepal Bankers’ Association President Santosh Koirala expressed concern over the rapid rise in EV investments without sufficient regulatory oversight. He highlighted the risk of inexperienced businesses entering the EV import market, potentially putting pressure on the financial sector.

“Loans worth Rs 129 billion have been issued for vehicles in the current fiscal year alone,” Koirala said. “Most loans are for 7–8 years, but if EV batteries need to be replaced within 2–3 years, borrowers could struggle to repay.”

Koirala also warned that without proper standards, the financial system could face risks, particularly as battery replacement becomes necessary around the fifth or sixth year of ownership. He stressed that green financing alone is not enough and called for more clarity on EV technologies.

Vice Chairman of the National Planning Commission, Dr Shiva Raj Adhikari, echoed the call for policy stability. “The government must avoid erratic changes in tax and loan policies related to EVs,” he said. “Frequent shifts can create uncertainty for investors.”

Dr Bim Prasad Shrestha from Kathmandu University raised the alarm over Nepal becoming a potential dumping site for EVs from around the world. He emphasized the need to train technicians and modernize educational curricula to keep pace with evolving automotive technologies.

While stakeholders acknowledged the growing popularity of EVs in both public and private sectors, they stressed that proper standards, skilled manpower, and policy consistency are essential to ensure sustainable growth and avoid long-term risks.