Unbelievable! This Nation Just CRUSHED EV Adoption Records (76% Market Share!)
Guys, I’ve got to admit, I’ve been guilty of this. I’ve focused on electric car sales predominantly in North America, China, Europe, and Australia, and the UK. Of course, they’re part of Europe, but I haven’t really focused as much on other countries. Now, I did recently read some information that um EV sales in Thailand in particular have been skyrocketing, but I had no idea that EV sales had hit 76% in this country, this developing or you might say third world country. 76%. I remember when I first started this channel and I was talking about EV sales taking over the world and people are saying, “No, man. Um, you’re wrong because Africa and India, EVs are never going to succeed in those places. The the developing world, they’re never going to buy EVs. I mean, that just makes no sense whatsoever. But actually, some parts of the developing world are buying EVs at a much higher percentage than the Western world. I mean, much much higher, far higher. In fact, higher than anywhere else in the world, higher than Europe, higher than anywhere except Norway, which is incredible. Hello my friends, welcome to the channel. It’s great to have you with us. Last year 76% of all new passenger cars, 76% and 50% of commercial vehicles in Nepal were electric. Now that’s compared to globally the average is around 20%. 76%. And 50% of light commercial vehicles. This is unreal. I mean I don’t know how I didn’t even know this was happening. No one told me. Um, I’m not blaming anyone else. I should have done the research. This is on me. The New York Times released a report showing what has been happening in Nepal. And well, here’s the thing. New York Times is trying to say that abundant hydro power, so cheap, clean electricity, uh, smart import tax policies, growing infrastructure, and a wave of affordable EVs from China have transformed Nepal. I mean, Nepal is known as being loud, kind of a bit of pollution there. Yeah. I mean, let’s be honest, kind of dirty. Um I mean it was just in a big earthquake not that long ago but it’s changing rapidly. Nepal’s power grid is fed by rivers flowing from the Himalayas making electricity clean and locally sourced. So Nepal is going to be it’s going to it’s going to hit net zero before the rest of the world does well before. A 2015 fuel crisis with India prompted a national pivot to hydro power, helping to end the rolling blackouts that plagued the country for years. Now, electricity is well, there’s tons of it, and it makes more economic sense to use it for transport than to keep importing petroleum or gasoline. So, isn’t this interesting? When there is an abundance of cheap electricity, virtually you could say marginal cost electricity as Tony Sber would say, what happens? People buy electric cars. There are many countries that um have not embraced EVs like Nepal has. Though to accelerate this transition, the government has played a big part. They slashed import taxes for EVs to 40% versus 180% for internal combustion engine cars. Now those import taxes are still ridiculous, 40%. But it’s a lot lower than 180%. So the government has clearly played a part in this. Uh Hyundai electric SUV now costs less than its gas powered counterpart. So what happens when you can buy EVs for less money than internal combustion? Everyone does. Or nearly everyone anyway. 76%. And I think that gives us a good look into the future because EVs will be cheaper than internal combustion within the next five to six or seven years. They’ll be cheaper in most countries around the world. So I think we’re going to see Nepal play out everywhere else. Charging infrastructure is growing fast as well. There is 62 public charging stations installed by the government, hundreds more by businesses and many at homes as well. At current electricity prices, you can charge an EV for 15 times less than refueling a gasoline powered car. 15 times less. Now, I should point out that’s really good. But for me personally, I don’t pay anything to charge my EV cuz I do use my solar. So, yeah, okay, that’s not true because I guess I do road trips a few times a year, but 98% of the time I pay nothing to charge it. And that’s the case for many millions of people around the world who buy an EV, they charge it on solar. Chinese automakers apparently like um Bay and other companies are taking over the market in Nepal and they’re doing a similar thing in Thailand as well. So parts of Asia are changing quickly. One of the dealers said consumers are getting Tesla tier vehicles at half the price. Now, one Suzuki dealership said that this Suzuki dealership, they’re not really selling Suzukis anymore. They’re selling they’re selling EVs from other car brands cuz Suzuki is just not into EVs. In fact, Suzuki hates EVs. Apparently, dozens of Chinese brands are now competing in Nepal’s EV market, pushing prices down faster, making this all happen quicker. Now, can you see a similar thing playing out in other places, not the United States or Canada, the rest of the world, though? Yeah, pretty likely, right? The elect trans transition is creating huge opportunities and it’s really good because now Nepal is not having to buy all this gasoline and petroleum from outside of the country. So it means its terms of trade are improved. Its trade balance has improved. EVs are paying off for everyday Nepalese. A retired police officer apparently purchased an electric mini bus for $33,000 and does 10 round trips a month between Kathmandeue and his hometown. Um, apparently he will own it outright in 4 years. Now, because his cost to run the vehicle is so low, he is saving enormous amounts of money, massive sums. Yes, of course, there’s challenges with infrastructure, but a lot of these people can charge their vehicles at home overnight. So you don’t necessarily have to have modern 350 kW chargers in order to have a big EV fleet, but you do need a lot of a lot of electricity, which Nepal clearly does have. Apparently though, while EV sales are going crazy, most of Nepal’s population still uses buses and motorbikes, which are predominantly fossil fuel. That’s going to change though, big time. State-backed bus operator Serge Yu Yateayat runs 41 electric buses and plans to expand. China recently offered to donate 100 more buses. There’s always some uh strings attached. Keep that in mind. Helping to build a clean transit backbone in Nepal. However, experts say that at least 800 electric buses are needed to truly shift mobility in the Cathmandeue Valley. Scooters and two wheelers also need to go electric, but those are so cheap, guys. I mean, here in Australia, these electric um powered mountain bikes or street bikes, kids are riding them around everywhere. Adults riding around riding them around everywhere. They’re illegal mostly now, but people do it anyway. And honestly, those things are so good and they’re so cheap and I I can see them taking over in places like Nepal incredibly quickly. So this transformation happens fast. EVs will take over a market very quickly if given the right circumstances. Abundant affordable electricity which is happening with renewables around the world. Remember we need 200% renewables on average in order to make up for the fact that sometimes there is not enough sun and not enough wind. So that’s the approximate number, 200%. What do we do with that extra 100% of energy when we don’t need it? Most of the time 99% of the time we don’t need that extra 100%. Well, we use it to power our vehicles. We use it to power the future. Thanks for watching. Bye-bye. [Music]
Unbelievable! This Nation Just CRUSHED EV Adoption Records (76% Market Share!)
Norway has once again shattered global EV adoption records, with electric vehicles making up a staggering 76% of all new car sales, thanks to strong government incentives, robust charging infrastructure, and widespread consumer acceptance. The country remains the undisputed global leader in the electric mobility transition.
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#nepal #electriccar #evadoption #crushed #norway #sustainability #cleanenergy #greentransport
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This country quietly became an electric haven with EVs now having 76% market shares
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