KATHMANDU, Feb 28: Preparations are underway to produce electric vehicles in Province 1 in partnership with Korean companies. For the establishment of industry to produce electric vehicles in Province 1, two Nepali and two Korean companies have started necessary preparations following an agreement to manufacture electric vehicles in Nepal.
Tikaram Puri, Chairman of N K Motors Pvt Ltd, said that the representative of the Korean company will visit Province 1 this March and select a suitable location for the establishment of a production plant in Province 1.
Paramount motors partners with NIMB Bank to offer up to 80 perc...
The Nepalis team reached Korea on February 24 to sign an agreement with a Korean partner for the production of electric vehicles in Province 1. On February 25, an agreement was signed between NK Motors Pvt Ltd of Nepal and SDK Company of Korea to manufacture electric vehicles in Nepal.
The agreement was signed by Tikaram Puri, chairman of NK Motors, and Dae Ki Jung, executive chairman of the Korean company. There is a plan to produce various electric vehicles based on Korean technology with a bilateral investment of about Rs 3 billion.
Puri said that the company will manufacture school and college buses and private and public vehicles. According to him, the target is to send the products to the market within one year.
The demand for electric vehicles is increasing in Nepal in recent years. Puri said necessary coordination will be done with the provincial government as well, he said.
