EconomyLens.com
No Result
View All Result
Tuesday, June 17, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Nepal dam-building spree powers electric vehicle boom

Andrew Murphy by Andrew Murphy
September 30, 2024
in Economy
Reading Time: 9 mins read
A A
0
165
SHARES
2.1k
VIEWS
Share on FacebookShare on Twitter

Kathmandu is ground zero of an incipient transport revolution set to see the clapped out cars that clog its traffic-snarled streets make way for emissions-free alternatives. ©AFP

Kathmandu (AFP) – Taxi driver Surendra Parajuli’s decision to buy an electric cab would have been unthinkable a decade ago, when chronic power cuts left Nepalis unable to light their homes at night. But a dam-building spree has led to dirt-cheap energy prices in a landlocked Himalayan republic otherwise entirely dependent on fossil fuel imports, meaning the switch has put more money in his pocket.

Related

US Fed set to hold rates steady as it guards against inflation

Bali flights cancelled after Indonesia volcano eruption

EU chief says pressure off for lower Russia oil price cap

Spain says ‘overvoltage’ caused huge April blackout

Trump says EU not offering ‘fair deal’ on trade

“It has meant huge savings for me,” Parajuli, the proud new owner of a battery-powered and Chinese-made BYD Atto 3, told AFP in the capital Kathmandu. “It gives 300 kilometres (186 miles) in a single charge and costs me a tenth of what petrol does. And it’s environmentally friendly.”

Kathmandu is ground zero of an incipient transport revolution set to see the clapped out cars that clog its traffic-snarled streets make way for emissions-free alternatives. More than 40,000 electric vehicles are on the roads around the mountainous country, according to official estimates — a small fraction of the 6.2 million motor vehicles currently in service. But demand is insatiable: more than a quarter of those vehicles were imported in the 12 months to July, a near-threefold increase from the previous year. Neighbouring China, now the dominant player in electric vehicles globally, is supplying nearly 70 percent of the market.

“EVs are genuinely suitable for Nepalis,” Yajya Raj Bhatt, a prospective buyer at an electric vehicle motor show, told AFP. “Before, we had to rely on petrol cars, but now we can drive independently.”

– ‘Great potential’ –

More than four in five Nepalis did not have access to electricity at the turn of the century, according to the International Energy Agency. But rapid investment in dams, which generate 99 percent of Nepal’s baseload power, has transformed the energy grid since. Hydropower output has increased fourfold in the past eight years, according to government figures, while 95 percent of the population now has access to electricity. The country has already signed deals to export surplus power to coal-dependent India and has its sights set on future revenues by raising its current 3,200 megawatts of installed power generation capacity to 30,000 megawatts over the next decade.

Making electricity universal, and universally cheap, has the potential to jumpstart an economy that has historically depended on remittances from Nepalis working abroad. Kulman Ghising of the Nepal Electricity Authority told AFP that the benefits have already been felt by setting the favourable conditions for widespread electric vehicle adoption. Nepal is entirely dependent on imports from India to meet its fossil fuel needs, imposing additional costs on motorists, but Ghising said curbs on demand had saved the country around $224 million. “The EVs have great potential for us,” he added. “EVs in India and Bangladesh need to depend on coal, but in Nepal, it’s fully green energy,” he said.

Road transport accounts for just over five percent of greenhouse gas emissions and has fuelled a worsening air pollution crisis. Kathmandu was this year listed as one of the world’s most polluted cities for several days in April. Experts say that getting more petrol-powered vehicles off the road will be a major step towards alleviating that problem. Electric vehicles are subject to much lower import duties, and the government expects them to help Nepal reach its ambitious aim of becoming a net-zero greenhouse gas emitter by 2045. Its plan aims to have electric vehicles account for 90 percent of all private vehicle purchases by the end of the decade.

– ‘Immediate problems’ –

But not everyone is convinced that the advent of Nepal’s electric vehicle boom portends an environmentally friendly future. Nepal’s ambitious hydropower plans are contentious, with campaigners warning that the construction of new dams risk damaging sensitive ecological areas. The government this year approved a new policy allowing the construction of dams that could impact previously protected areas, including forests, nature reserves and tiger habitats. Hydropower projects also face the risk of damage from floods and landslides common in the country, both of which are increasing in frequency and severity because of climate change.

Campaigners also say the government, in its rush to embrace electric vehicles, has neglected to make proper plans for managing the sizeable electronic waste burden. EV lithium-ion batteries contain materials that are hazardous to humans and the environment, and their disposal is costly. “The government does not seem far-sighted on this issue, it is just concerned with solving only immediate problems,” Nabin Bikash Maharjan of recycling enterprise Blue Waste to Value told AFP. “It is high time for the government to prioritise it. Otherwise it will create additional pollution.”

© 2024 AFP

Tags: electric vehiclesrenewable energysustainability
Share66Tweet41Share12Pin15Send
Previous Post

SpaceX launches mission to return stranded astronauts

Next Post

Bike apprenticeship helps break UK reoffending cycle

Andrew Murphy

Andrew Murphy

Related Posts

Economy

UK automakers cheer US trade deal, as steel tariffs left in limbo

June 17, 2025
Economy

Global oil demand to dip in 2030, first drop since Covid: IEA

June 17, 2025
Economy

US retail sales slip more than expected after rush to beat tariffs

June 17, 2025
Economy

Why stablecoins are gaining popularity

June 17, 2025
Economy

Bank of Japan holds rates, will slow bond purchase taper

June 17, 2025
Economy

Ecuador pipeline burst stops flow of crude

June 16, 2025
Next Post

Bike apprenticeship helps break UK reoffending cycle

Britain's last coal-fired power station closes

Tokyo stocks dive on strong yen as Hong Kong, Shanghai extend rally

China megacities ease homebuying rules to boost property market

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

EU chief says pressure off for lower Russia oil price cap

June 17, 2025

Spain says ‘overvoltage’ caused huge April blackout

June 17, 2025

Swiss insurers estimate glacier damage at $393 mn

June 17, 2025

Brazil sells rights to oil blocks near Amazon river mouth

June 17, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.