Import of Electric Vehicles Sri Lanka – Cabinet Approval Granted

a white sports car in a showroom

The Cabinet has approved the import of electric vehicles.

This action has been taken to attract investments.

It is stated that it has been decided to import electric vehicles for an amount not exceeding 30,000 US dollars without customs fees.

The Council of Ministers has approved the proposal presented by the President as the Minister of Finance, Economic Stabilization and National Policy to allow the import of electric vehicles.

The following eligibility criteria must be met, ie

• The companies concerned must have been registered under Section 17 of the Sri Lanka Board of Investments Act and have been operating for less than 5 years.

• The proposed minimum investment for extension of the project is US$ 3 million

• Creation of minimum 50 jobs under the proposed enterprise expansion programme.

• An enterprise must generate 50 new local employment opportunities out of which 15 employees must have technical qualifications.

• Minimum investment is 250,000 US dollars.