Sri Lankans eye EVs and hybrids amid rising fuel costs, says BYD’s local agent
EconomyNext: Sri Lanka may see a rise in demand for electric and hybrid vehicles amidst the rise in fuel costs, a senior official of John Keells CG Auto, the local agent of BYD, has said at the launch of the popular EV’s latest model in Colombo.
Speaking at the official launch of the BYD Sealion 8, a hybrid 7-seater SUV, John Keells CG Auto said they are seeing demand right now and expect to see rising customer demand for EVs.
“BYD has sold 9,200 units in total, with about 8,000 sold in 2025,” John Keells CG Auto Chief Executive Officer, Charith Panditharatne said.
“If the market continues in the current trend, we expect to see a rise in demand this year for BYD.”
Sri Lanka is the first in South Asia to debut BYD’s latest flagship model.
The Premium model of the BYD Sealion 8 has battery capacities of 35.6 kWh and maximum power of 359 kW. The Dynamic model has a battery capacity of 19kWh, with maximum power of 205kW.
The Premium model was quoted at a price of Rs.34.9 million, while the Dynamic model was revealed to be Rs.29.9 million.
Electric and hybrid vehicles, already popular in Sri Lanka after an economic crisis which led to a fuel shortage in 2022, could see higher demand amidst the ongoing fuel uncertainty.
Although the value per barrel of Brent oil has come down back to around 86 dollars per barrel after nearly touching 120 on Monday, volatility remains due to the unpredictability of the situation in the oil producing West Asia region following the US-Israel attacks on Iran and its resulting retaliation.
OSL take:
With Sri Lanka’s economy on an expansion path with heightened activities and growth in foreign travelers to the country for tourism, trade and business purposes, there’s an increasing need to ensure internal connectivity within the country through a strong transport sector. As pointed out in the story above, there’s an increasing demand for EVs as a response to the rising fuel costs. This has resulted in the opening of business/investment opportunities in Sri Lanka’s transport industry as well as in the setting up of infrastructure and supplementary infrastructure facilities required to meet the demands of the industry. In the case of EVs, an increase in the use of EVs would result in the need for charging stations, preferably powered by renewable energy sources given Sri Lanka’s commitment to expand clean energy sources, as well as facilities for maintenance of these vehicles. Foreign businesses/investors on the lookout for lucrative ventures in Sri Lanka could explore these opportunities while also looking at engaging in these ventures through partnerships or joint ventures with businesses already engaged in Sri Lanka’s transport and automobile sectors.
| Article Code : | VBS/AT/202603013/Z_4 |