Banking News – Finance Minister Dr. Swarnim Wagle has expressed the government’s support for promoting Nepal-made electric vehicles after visiting the factory of Sipradi Yatri in Budhanilkantha, Kathmandu, where the country’s first locally designed and manufactured electric scooter, the ‘Yatri P2,’ is being produced.

During his visit, Minister Wagle observed the manufacturing process of the electric scooter and praised the efforts of the company to develop and manufacture a two-wheeler in Nepal. He said it was encouraging that the Yatri P2 had been designed and manufactured domestically, urging the company to compete at international quality standards and expand its product into global markets.

“Your hard work is commendable. It is encouraging that the Yatri P2 has been designed and manufactured in Nepal,” Minister Wagle said, emphasizing that the government would provide necessary support. He also described the development of a locally designed electric two-wheeler as a historic achievement for Nepal.

Referring to global manufacturing models, Wagle said Nepal should seek to carry out as much of the design and production process domestically as possible while also exploring ways to make the product competitive internationally. He expressed hope that the Nepal-made scooter would eventually compete with established global brands and find markets beyond Nepal.

During the visit, Asim Pandey, Founder and CEO of Yatri Electric Bikes, briefed Minister Wagle about the design of the newly developed scooter, safety testing, components used in the vehicle and the experience gained from its successful testing.

Similarly, Rajan Babu Shrestha, Chief Executive Officer of Sipradi Trading, said the company had achieved a historic milestone by designing and manufacturing an electric scooter in Nepal. He said developing two-wheeler vehicles domestically, including incorporating unique and advanced features, represented a significant achievement for Nepal’s automotive industry.

According to Shrestha, the scooter has undergone successful testing in Nepal’s difficult and challenging hilly and Himalayan terrain, and preparations are underway to launch it for public sale soon.

Company officials have claimed that the locally manufactured scooter featuring a DC charger represents a world-first achievement in electric two-wheelers. Shrestha also called on the government to introduce supportive policies on raw materials used to manufacture electric batteries and scooter components so that Nepali products can compete effectively in the market.

The company has kept the scooter’s details largely confidential for now as preparations for its public launch are underway.

Asim Pandey, who returned to Nepal after completing engineering studies in the Netherlands, founded the startup Yatri Motorcycles in 2017 with the goal of developing electric motorcycles. The company later entered into a business partnership with Nepal’s leading automobile distributor Sipradi Trading, operating as Sipradi Yatri.

The company has now developed the Yatri P2 electric scooter with its own design and engineering in Nepal and subjected it to quality testing through an Indian agency responsible for testing two-wheelers. The development marks another step toward strengthening Nepal’s domestic electric vehicle design and manufacturing capabilities.