Nepal’s largest auto show opened in Kathmandu on Tuesday. The biggest names showed off their latest products, particularly electric vehicles (EVs), which dominated the show, underlining how the country’s market is already in an all-electric state of mind.

Organisers said automakers and dealers unveiled a slew of new models with discounts and bank finance galore.

This is the 16th edition.

Finance Minister Bishnu Prasad Paudel opened the auto show by saying that the monetary policy unveiled recently did not address the automobile sector, but the government has some plans to boost the sector, and amendments to the policy will be made accordingly.

“We will take an appropriate move on electric vehicle (EV) policy amid the ongoing demand.”

The auto show is expected to see transactions worth around Rs20 billion.

Paudel said that the time has come to assemble vehicles in Nepal rather than continue to import all of them.

“We are ready to extend every support to the manufacturers if they intend to establish a plant here,” he said.

The government closely monitors the auto fair, which may provide a much-needed tax boost to the ailing economy amid the slowdown.

Paudel said the auto fair was a significant event contributing to the government’s revenue.

Dealers say that sales may get a boost after a recession in the auto sector for two consecutive years.

According to the organisers, more than 50 auto brands are on display. However, the competition is between China and the rest of the world.

Chinese brands, including BYD, Deepal, Skywell, Dongfeng, Omoda, Neta, MG, and Great Wall, feature at the six-day NADA Auto Show 2024 expo.