In absolute figures, the country imported 93 units of EVs and hybrid vehicles at a value of Nu 185.25 million in the same period from India and other countries, according to the Bhutan Trade Statistics. Contact online >>
In absolute figures, the country imported 93 units of EVs and hybrid vehicles at a value of Nu 185.25 million in the same period from India and other countries, according to the Bhutan Trade Statistics.
The import of EVs share has jumped from 13 percent of the import value in 2022. Bhutan imported 190 units of EVs worth Nu 430.31 million the same year while the total vehicle import value stood at Nu 3.2 billion.
The import value last year could have been higher had the government not announced the moratorium on the import of non-essential vehicles from August 2022 to save the foreign currency reserves. This moratorium has been further extended until August of this year.
The moratorium applied to import of all vehicles including two-wheelers, except utility vehicles, heavy earthmoving machines and agricultural machinery, only utility vehicles costing less than Nu 1.5 million or USD 20,000 (whichever is less) to be allowed.
He also said that a 20 percent subsidy on the cost of EV with a maximum ceiling of USD 5, 500 and a 70 percent loan facility from the financial institution helped them to purchase EVs.
To encourage EVs in public transport, a pilot project called "Bhutan Sustainable Low Emission Urban Transport Systems" was implemented in 2019 with the aim to replace 300 taxis.
Import of petroleum products, however, is on rise. Fossil fuel imports of Nu 8.35 billion in 2021, increased to Nu 11.37 billion in 2022. In the first nine months last year, the fossil fuel import was recorded at Nu 9.98 billion.
The EV road map aims to increase EV sales to 20 percent of the total vehicle sales in the short term- from 2021 to 2025 and increase it to 50 percent by 2030, and then to 70 percent by 2035 in the long term. It also aims to increase charging stations in the country.
A MoIC official mentioned that between 2017-2018 and 2020-2021, the number of EVs rose to 248 excluding the 64 electric taxis in the country. The number of EVs will be increased by over 80% after the completion of the EV project of the government to bring in 300 EV taxis in the country.
He also shared that the EV Road Map aims to increase EV sales to 20% of the total vehicle sales in the short term- from 2021 to 2025 and increase it to 50% by 2030, and then to 70% by 2035 in the long term. It also aims to increase charging stations in the country.
As the electric variants of the two and four-wheeler are often priced much higher than regular fuel options, this is the most important reason for the slow adoption of electric mobility.
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