#NetaV: Netizens slam a company of Nepal’s dollar billionaire for ‘massively overpriced’ electric vehicle

Many have slammed Nepal’s Chaudhary Group for overpricing a newly launched China-made electrical vehicle Neta V. A fresh debate has also been raised about the effective implementation of Nepal’s black-marketing laws.

Photo: Nirvana Chaudhary

NL Today

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Kathmandu: Nepal’s only dollar billionaire Binod Chaudhary’s Chaudhary Group (CG) has been heavily criticized on social media for, what netizens call, massively overpricing Neta V, a newly launched China-made electric vehicle.

CG Motors, an extended arm of Chaudhary Group, launched its first crossover electric vehicle Neta V in the Nepali market on Wednesday (June 8). The company has announced that the Revolutionary Neta V is priced at Rs 3.79 million. 

Soon after the announcement, netizens started sharing posts comparing the vehicle price with market price in China and started criticizing the company for ‘ripping off’ the customers. 

In a post massively circulated on different social media platforms, Nepal’s price is compared with that of the price at the market. 

Some have even raised the issue of the implementation of Nepal’s black-marketing act that prohibits profit in excess of twenty percent of the billing price. 

CG Motors denies the allegations 

Issuing a press release, CG Motors has denied the allegation of overpricing. The statement has said that the price available online are meant for Chinese customers and the Chinese government does not provide a similar range of subsidies to export the vehicles. 

Similarly, the company has claimed that the manufacturing company also charges the Research and Development cost among others that result in the high price. 

The company has requested all not to spread rumors and not to follow such rumors.

Possibility of direct purchase

Even some social media users are demanding to introduce the provision of direct purchase by the customers. 

Dinesh Acharya writes on Facebook: “Who introduced the provision to restrict individuals purchasing vehicles directly without dealers? Do we need another Balen to break the syndicate?”