Sri Lanka and Indian joint venture assemble and roll out first “Make in Sri Lanka” cars
The joint venture between Mahindra India and Ideal Motors of Sri Lanka has resulted in the assembling and roll out of 40, ‘KUV100 NXT,’ which are the first “Make in Sri Lanka” cars from their assembly facility in Welipenna.
According to local media reports, 40 more cars are now on sale, signaling a historic land mark in Sri Lanka’s Automotive Industry.
The KUV100 NXT features 1.2 Litre/ 1198 CC Petrol Engine comes with many safely features such as 9th Generation Bosch Anti Braking System (ABS) with EBD, Dual Airbag, Automatic hazard lights on panic braking, Speed sensing automatic door locks built to international standards, local media reports state.
The Mahindra Group of India is a US$ 20.7 billion federation of companies that enable people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities.
OSL take:
Sri Lanka and India enjoy strong bilateral and trade ties. Sri Lanka also has an operational free trade agreement and Sri Lanka also enjoys preferential treatment when engaged in business with India. The same applies to Indian businesses in Sri Lanka as well. Indian businesses could confidently explore business/investment opportunities in Sri Lanka and vice versa. Also, foreign businesses interested in doing business with India could set up base in Sri Lanka to engage with India.
| Article Code : | VBS/AT/27022020/Z_3 |