Micro’s electric cars in tie up with SK group
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Dr. Lawrence Perera
Micro Car Holdings has joined hands with South Korea’s third largest diversified conglomerates, SK Group to make electric cars in Sri Lanka in a joint venture with an investment of US$30 this year and a further $20 million in the next two years, company officials said.
Micro will be manufacturing Sri Lanka’s first electric car with Korean assistance, as the SK Group is keen to produce electric cars in the island, Micro Holdings Chairman Dr. Lawrence Perera said.
A prototype of the electric car was unveiled in January this year, he said, adding that the first electric car could roll out from Micro’s Kurunegala vehicle assembly plant by early next year.
Dr. Perera made this revelation at a ceremony organized in connection with the exchange of an agreement between the two companies in Colombo recently.
The SK group, one of the largest EV battery manufacturers in the world, plans to bring in new technology to Sri Lanka through Micro Cars and diversify its automobile product portfolio focusing in E Mobility which is the future of the automobile/ transport industry.
SK Group Senior Vice President C.H. Lee said this is the first time that they are investing in the South Asian region. “We have seen the rapid technological progress of Micro Cars in Sri Lanka and decided to invest with them”.
He noted that his company has identified the potential in the economic growth in Sri Lanka. Mr. Lee said that they were also impressed with the geographical location of Sri Lanka which would enable them to manufacture and re-export to neighbouring countries in the region.
Micro Cars Ltd is one of the pioneers in the local automobile industry with 20 years of experience, facing many market adversities and challenges over the years. Today the company employs over 900 people and strives to empower Sri Lankan youth with a gender equality, whilst bringing the latest technology and pride to the nation, Dr. Perera said.