Koshi NK Motors Revs Up Electric Vehicle Production in Nepal ➤ Nep123.com

Koshi NK Motors Revs Up Electric Vehicle Production in Nepal

Nepali Company Partners with Chinese Firm to Manufacture Local EV Brand

In a significant stride towards promoting sustainable transportation and indigenous manufacturing, Koshi NK Motors Pvt. Ltd. has accelerated its preparations to commence the production of electric vehicles (EVs) within a year. Established in Koshi Province with an investment exceeding Rs. 3 billion, this ambitious venture has taken a concrete step forward by entering into a formal agreement with China’s Xiamen Golden Dragon Auto Body Company.

Koshi NK Motors has set up its manufacturing facility on a 15-bigha (approx. 10-acre) plot of land in Budhiganga, Morang, and is gearing up for imminent operations. Tikaram Puri, the Chairman of Koshi NK Motors, expressed his determination to fast-track the work and kick-start vehicle production within the next 12 months.

In the initial phase, the company plans to manufacture micro and light electric vehicles tailored for educational institutions, such as schools and colleges. However, Puri revealed that the long-term goal is to gradually expand the product range to encompass various types of EVs, catering to diverse transportation needs.

Koshi NK Motors aims to leverage Nepali investment and Chinese technology to establish a homegrown EV brand. Puri emphasized that the collaboration with Xiamen Golden Dragon Auto Body Company is focused on acquiring technical support rather than direct Chinese investment. The company has allocated an initial investment of Rs. 3 billion for this venture.

“We are going to produce electric vehicles with technical support, not Chinese investment. We have planned to invest Rs. 3 billion in the first phase,” Puri stated. “There is an agreement that we will purchase the parts and necessary raw materials from that company, and that skilled technicians will support us for two years.”

The bilateral agreement, signed on April 29, 2024, between Koshi NK Motors Pvt. Ltd. and Xiamen Golden Dragon Auto Body Company, aims to facilitate the production of all types of four-wheeled vehicles in Nepal. Puri expressed his vision for the vehicles produced in Nepal to carry a Nepali brand, instilling a sense of pride in the local manufacturing capabilities.

With an ambitious production target of at least 750 vehicles per month, Koshi NK Motors is poised to make a significant contribution to Nepal’s automotive industry and drive the nation’s transition towards sustainable mobility.