Sri Lanka is poised for a significant expansion in its automobile assembly sector, with four plants set to commence operations within the next three months and an additional 11 registered by the Industries Ministry.
Overseen by a Special Cabinet-appointed Committee, the Standard Operating Procedure (SOP) and its governance are ensuring the industry's smooth functioning.
Among the brands gearing up to assemble vehicles in Sri Lanka are JAC and FOTON, with the ministry anticipating around 30 entities operating in the local automobile assembly industry by the end of 2024. This surge in involvement from renowned brands like Hyundai, Proton, BAIC, DFSK, and others underscores the favorable investment climate in the country.
Approval to assemble a diverse range of vehicles, including SUVs, cars, two-wheelers, double-cabs, trucks, and buses, has paved the way for a dynamic automobile assembly industry, catering to various consumer demands. Notably, Nwow electric bikes, KD Rize, Dyno, and Senaro are also engaged in the local assembly of motorcycles.
Since the launch of the SOP in 2021, over 15 automobile and motorcycle assembly plants are currently operational in Sri Lanka.
Dimantha Jayawardena, Chairman of the Industries Ministry Sector Advisory Committee for Automobile, noted that Sri Lankan automotive component manufacturers weathered one of the toughest business cycles in 2020, signaling resilience and adaptability within the industry.
