Vehicle assembly and spare parts industry sees USD 450M growth
- CNL Reporter
- February 11, 2025
- Business News
- Vehicle assembly and spare parts industry sees USD 450M growth
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The country’s vehicle assembly and spare parts manufacturing industry has made significant progress over the past four years, increasing export income by USD 450 million, according to Deputy Minister of Industry and Entrepreneurship Development, Chaturanga Abeysinghe.
In a post on his Facebook account yesterday (10), Abeysinghe noted that 17 vehicle assembly industries have expanded in the past four years, generating 20,000 direct and indirect jobs.
Additionally, 78 value-adding industries have been established, further strengthening the sector.“International brands such as TVS, Bajaj, Hyundai, Proton, Cherry, JMC, and Beijing are now being assembled in Sri Lanka.
Approximately 60 per cent of the value of motorcycles and 25 per cent of the value of cars are added locally,” said Deputy Minister Abeysinghe. He attributed this success to the continuous support and standard operating procedures (SOPs) provided by the Ministry of Industry in recent years.
