Chinese company Xiamen Golden Dragon Auto Body Co Ltd is investing Rs 3 billion to set up an assembly plant of electric vehicles (EVs) in Nepal.
The Chinese company in this regard signed an agreement with Koshi NK Motors Pvt Ltd, Nepal on Monday. Tikaram Puri, chairman of the Nepali partner company, said they will be manufacturing four-wheeler EVs for commercial use this year.
According to Koshi NK Motors, they have planned to manufacture over 5,000 EVs annually. The vehicles will come in 12 and 14 seats.
Puri said they have acquired 15 bigha of land in Biratnagar for the assembling plants. “The technology and equipment will be imported from China,” he said.
