There is a need to implement suitable business models to promote investment in EVs: Experts

Kathmandu / July 22: Experts on Thursday stressed the importance of identifying suitable business models of electric vehicles (EVs) that could help catalyze investment at the local, regional, national, and supranational levels in this fast expanding segment of renewable energy use.

The experts expressed this view at a virtual workshop organized by USAID’s Urja Nepal and its companion project, South Asia Regional Energy Hub (SAREH). The workshop observed a participation of 35 public and private agencies from Nepal, as well as regional and international experts who showcased multiple business models in use around the globe.

Nepal has targeted to switch to EVs by 2030. The government in its budget 2021/22 has also stated to waive import taxes on EVs and to build hundreds of charging stations throughout the country.

According to Urja Nepal, the workshop was targeted to help accelerate the government’s roll-out plan of EVs by improving the knowledge of Nepali stakeholders on global practices and policies, analyzing costs and benefits, understanding multiple business model options for the deployment of EVs, standards for charging infrastructure, and raising the awareness of leading practices in relation to setting of public charging stations.

“The workshop will complement the government’s efforts to roll out an environmentally friendly transportation system in the country that will contribute to addressing climate change, a top priority for the US Government assistance in Nepal,” said Shanker Khagi, environment and energy specialist at USAID. According to him, USAID is advancing the US Government’s priorities to reduce global greenhouse gas emissions in the coming decade and help Nepal increase its resilience to global climate change.

Sagar Mani Gyawali, project manager of Electric Vehicle Charging Infrastructure Development Project at Nepal Electricity Authority, said as the country has moved forward with EVs, it is important to explore and understand the utility of EVs and all other aspects associated with them.