KATHMANDU: Cimex Inc Pvt Ltd, the authorised distributor of BYD Auto Industry Co Ltd in Nepal, and Nabil Bank signed a memorandum of understanding (MoU) on Wednesday to collaborate for EV financing of BYD vehicles. Nabil Bank will provide up to 80 per cent bank financing on BYD electric vehicles, as per a press release.

This collaboration aims to offer easy retail financing for customers looking to purchase vehicles from BYD. As per the agreement, customers will get easy access to loan facility from all branches of Nabil Bank with an interest rate of 12.99 per cent for up to seven years. With 20 per cent down payment, customers can now own a BYD electric vehicle. The loan will be floated in line with related directives and guidelines of Nepal Rastra Bank. Cimex is offering BYD ATTO 3 (Rs 8.99 million), the first sporty electric SUV in Nepal, and BYD All- New e6 (Rs 5.9 million), the longest range EV in Nepal, in the market.

A version of this article appears in the print on December 9, 2022, of The Himalayan Times.