Ankur Desai

So even though this is a big day for Nepal and a big day for the RSP party, it is going to be a quiet victory.

Balin chose to run in the same constituency as the ousted 74-year-old former prime minister, KP Sharma Oli.

He said taking the fight directly to Oli was his way of getting justice for the young protesters who died.

This result means most to the Gen Z protesters who overthrew the government in September.

Rakesh is one of them, and he paid a very high price for it.

He told us police shot him and that he's now paralyzed from the waist down.

He didn't vote in this election.

He told us it was simply too expensive to leave the hospital, but that if he could have, he would have voted for Balan.

For the past 35 years or so, only three parties have been ruling.

Now there is a small glimmer of hope that a new generation will lead us towards progress.

When we spoke to the former Prime Minister KP Sharma Oli on the campaign trail, this clearly wasn't the result he was expecting.

And how are you feeling, hopeful?

This landslide victory for his opponent will shatter Oli's belief that the protests were not a referendum on his leadership.

A senior leader of Oli's party told us they will need to take decisive action following the results.

There should be a serious review, not just a general servicing of the UML, but it's through the stage where a major operation, a complete transformation, is needed.

For now, voters have signalled they're ready for a new, uncharted political era to begin.

Asaday Mashiri reporting.

The German carmaker Volkswagen has said it will cut 50,000 jobs in Germany by the end of the decade as its profits fell by over 40% last year.

The motor industry across Europe is struggling with intense competition coming from Chinese rivals.

David Bailey is a professor of business economics at the Birmingham Business School here in the UK.