LRR motors announces revised pricing for Geely EX5 following new fiscal budget provisions

KATHMANDU: LRR Motors has announced a revision in the retail prices of its popular electric SUV lineup, the Geely EX5 Max and Geely EX5 Pro, following the introduction of new taxation provisions under the Government of Nepal’s Fiscal Year 2026/27 Budget.

Under the revised pricing structure, the Geely EX5 Max will now be available at NPR 7.3 million (Rs. 73 Lakhs), while the Geely EX5 Pro will be priced at NPR 6.2 million (Rs. 62 Lakhs).

The price adjustment is a direct result of significant changes in the taxation framework applicable to electric vehicles (EVs).

The newly introduced budget has introduced a new Clean Infrastructure Investment Fee (CIIF) based on the customs valuation of electric vehicles. According to the new provisions:

• Electric vehicles with a customs valuation of up to NPR 2 million will be subject to a CIIF of 2.5 percent.
• Vehicles valued between NPR 2 million and NPR 3 million will attract a 20 percent levy.
• Vehicles valued between NPR 3 million and NPR 4 million will face a 35 percent levy.
• Electric vehicles valued between NPR 4 million and NPR 5 million will be subject to a 90 percent levy.
• Vehicles with a customs valuation exceeding NPR 5 million will attract a 130 percent levy.

In addition to these charges, Customs Duty, Value Added Tax (VAT), and Road Construction Fees will also be levied, resulting in a substantial increase in the overall import cost of premium electric vehicles.

Despite the price revision, Geely Nepal remains committed to delivering exceptional value, advanced technology, premium safety features, and a world-class ownership experience to Nepali customers.

The Geely EX5 continues to stand out as one of the most technologically advanced and feature-rich electric SUVs available in the market.

“We understand that the new taxation measures may impact customers’ purchasing decisions. However, the revised prices reflect the unavoidable increase in import costs resulting from the government’s new fiscal policy. LRR Motors remains dedicated to supporting Nepal’s transition toward sustainable mobility by providing high-quality electric vehicles backed by reliable after-sales service and customer support,” said Adhir Shrestha, Head of Sales of the company.

Customers interested in learning more about the Geely EX5 Pro and EX5 Max are encouraged to visit their nearest Geely showroom or contact Geely Nepal representatives for detailed information.