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Electric vehicles hold 15% of Sri Lanka's brand new vehicle ...
As the world dashes towards electric vehicles (EVs), following the global transition towards zero-emission vehicles, the Sri Lankan market is still entangled in a bureaucratic red tape on brand new EV imports. Is Sri Lanka lost in its path towards a greener, efficient business model? Of the brand-new vehicle registrations in Sri Lanka as recorded recently, EVs hold 15% of the total market, according to leading market research. In the first half of 2024, the global electric vehicle market exceeded 7 million units. This comprised 17 percent of the global sales of light-duty vehicles. According to the International Council on Clean Transportation (ICCT) – a Washington-headquartered global think tank – China, Europe, The United States and India have collectively represented 86% of the global electric vehicle (EV) market in 2024 H1. ICCT in a 2024 review stated: “Domestic vehicle producers, such as VinFast in Vietnam and Togg in Türkiye, dominated EV sales, meanwhile a mix of legacy automakers and newcomers such as BYD dominated sales in other markets. BEVs also dominated sales in these markets, comprising 83% of EV sales in 2024 H1.” Despite the global trend Sri Lankan reception of EVs has been poor. Above all factors, Sri Lanka’s hybrid and EV market suffers heavy import restrictions, blocking the growth of the sector as well as limiting the sustainable future the country is expected to reach. EVs were first introduced to Sri Lanka in 2013. The tax structures for EV imports remained the usual system practiced for the Internal Combustion Engine (ICE) vehicles despite the technological difference of the two segments of automobiles. EVs continued to be taxed on motor capacity according to the guidelines imposed by Sri Lanka Customs. The ban on all vehicle imports in Sri Lanka, imposed in early 2020 and lifted by the Government with effect from 1 February 2025, further shrunk the emerging EV and hybrid vehicle market. Even though the high taxation on EV and hybrid imports was criticised, the taxing system adopted was not prominently taken for broad discussion by experts or policy decisionmakers until a BYD Atto 3 vehicle fleet encountered the problem being held up in Customs due to a ambiguous situation in import clearing criteria. Even though the authorities agreed to certain conditions and released a part of the vehicle fleet a little over a month ago, the issue still persists, and the system seems to be desperately needing deep review. The matter was an eye-op...
Feature - Opportunities and challenges in Sri Lanka's EV eco system
News As Sri Lanka stands at the cusp of a transformative shift towards electric mobility, the journey ahead is promising yet fraught with challenges. The emergence of electric vehicles (EVs) heralds a new era in transportation that promises significant environmental benefits and a potential reduction in the nation's dependence on fossil fuels. However, fully realising the potential of EVs in Sri Lanka requires navigating a complex landscape of technical, economic, and infrastructural hurdles. This article, written by Prof. H. Niles Perera from the Department of Transport Management and Logistics Engineering, University of Moratuwa, delves into the intricate dynamics of the EV supply chain and examines the multifaceted opportunities and obstacles that shape the path to a sustainable and efficient electric mobility future in Sri Lanka. From the intricacies of developing a robust charging network to the governmental policies needed to stimulate adoption and the social implications of this shift, we explore the essential elements that will define Sri Lanka's journey towards an electrified transportation system. Q: How do you envision the transition to electric mobility, and what are its impacts on the supply chain? Mobility has been a linchpin in global economic activity ever since the internal combustion engine (ICE) was invented in the late 1800s. Fossil fuel has been the undoubted source that empowers mobility for over a century, but the depletion of fossil fuel as well as the environmental concerns raised by its emissions, has given rise to a shift towards exploring how “new energy” such as electricity, hydrogen, etc. can power our mobility needs as the world grapples to meet the covenants of the Paris Climate Agreement and ensure that the global temperature increase does not exceed agreed thresholds. Out of these energy sources, electric vehicles (EVs) have been the most effective so far, with the user base growing steadily. EVs offer a very reliable and cost-effective mobility solution. Q: Considering the current economic landscape, why should individuals adopt electric vehicles? One of the primary advantages of EV usage is its cost-effectiveness. Even though many Sri Lankans are reluctant to adopt EVs due to various reasons, it offers a smooth driving experience with minimal maintenance. Furthermore, it has the advantage of being environmentally friendly. Given that many major automakers are setting targets to cease ICE production within the next...
Latest Sri Lanka Electric Vehicles Tenders 2024
Bidding for Electric Vehicles tenders in Sri Lanka is extremely lucrative for companies of all sizes. Sri Lanka tendering authorities release contracts for most of the Electric Vehicles products and services procured by them.
Xiaomi Electric Cars Hit the Market in Sri Lanka
Xiaomi's strategic entry into Sri Lanka's eco-friendly vehicle market may transform local commuting landscapes. The brand's pivot from consumer electronics to electric cars showcases its commitment to innovation and environmental responsibility.
