‘Road to Electrification’: Future of EV market in Sri Lanka

The Association of International Marketing Graduates in Sri Lanka (AIMG) together with the Ceylon Motor Traders Association (CMTA) recently organised a joint forum titled “Road to Electrification”, which delved into the future of the EV market in Sri Lanka.

It welcomed over 150 marketers, automotive industry experts, corporate leaders, executives, and professionals and was aimed at initiating productive discussion within the community and imparting knowledge on the introduction of EV to the Sri Lankan market and its impact on the economy of Sri Lanka.

The speakers at the event included the first electric super car VEGA founder Dr. Harsha Subasinghe made in Sri Lanka; University of Moratuwa logistics specialist Dr. Niles Perera; GGGI regional program development lead Maricor Muzones; and Transport and Highways Ministry additional secretary Lalith De Alwis. CMTA immediate past Chairman and Carmart. CEO Yasendra Amerasinghe served as the moderator.

A vibrant and thought-provoking panel discussion took place, with the speakers sharing their knowledge of technical expertise, environmental protection, and regulatory policy development to embrace the EV age (as many countries are now investing in the infrastructure).

While both the pros and cons of the EV rollout were well highlighted, one key factor which was established was the need to strongly regulate the EV eco-system and for the need to allow only manufacturer authorised brand-new electric vehicles to the country.

In his introduction, Dr. Subasinghe stated that: “The future for electrically powered vehicles is very bright” and delved into the benefits and issues of EVs that we need to overcome. He further stressed the importance of charging networks and the exportation of charges to other countries, and he shared his wealth of experience on batteries, controllers, etc. Speaking in terms of electricity generation, Dr. Subasinghe delved into Small Modular Reactor (SMR) systems and the possibility of Sri Lanka adapting them.

Muzones spoke on GGGI, which is a treaty-based organisation operating to get the principle of green growth in Sri Lanka. In her opinion, “Sri Lanka has put in many development policies, out of which the transport policy is now being reviewed for strengthening.” Although the mandate is available, how it should be operationalised is the question.

“GGGI is looking at supporting the Government and that there should be an operational plan, and it touched upon the need for electricity that Sri Lanka is facing.” GGGI’s role is to support the Government of Sri Lanka; however, Muzones believes the involvement of the private sector is vital.

De Alwis, as a Sri Lanka Government representative, stated: “Transport is the key factor to the economy, and there are guidelines being prepared for EV vehicles with the support of the UNDP.” Alwis also spoke on the financial issues and the national transport action plan that is being prepared, including e-mobility, technology, environmental protection, infrastructure, etc. Concluding, De Alwis spoke on the policy changes needed and highlighted the important factors relating to the awareness of EV. He also noted that, as per the sustainable energy development action plan for EVs, 10% of the vehicle fleet will be converted to EVs by 2030. He also stated that by 2030, there will be an action plan in place to develop renewable energy sources up to 70%, and he asked for private sector participation in this effort.

Dr. Niles stated that transportation is a demand and that there is a lot of movement toward sustainable transportation, mentioning that EV is the fastest developing technology. The aim should be to move faster with better sustainable resources, and in order to do that, it is important to look at the supply chains for electric vehicles, such as mining and so on. He also stated that: “There should be a plan to train people, provide charging stations, and build other infrastructure to support electric mobility.” Converting the existing fleet to electric vehicles, which is not feasible, for the transition, a new fleet of electric vehicles should be brought in, and in terms of energy, his point was to ensure Sri Lanka's energy security, and he mentioned the importance of nuclear energy. In Sri Lanka, the main issue is energy, which is in crisis. “When there is a switch, the entire picture should be looked at in a holistic way.” He stressed the need for the entire support system to approach the shift to electric vehicles while putting the required regulations and infra-structure in place.