KATHMANDU, APRIL 29: A Chinese company has agreed to invest in manufacturing electric vehicles (EVS) in Nepal. Golden Dragon Auto Body of China will forge a collaboration with a Nepali company, N.K Motors, to make such an investment. The two companies signed a Memorandum of Understanding (MoU) in this regard today during the 3rd Nepal Investment Summit.
As per the MoU, they will invest Rs 3 billion in the first phase of constructing the vehicle manufacturing plant. The 408,375 -square feet plant, to be located at Biratnagar in Morang, will start producing four-wheelers within one year. Such EVs are based on a combination of Chinese and Korean technology.
