Valued at USD 76 billion in 2020 this segment is projected to reach USD 253.9 billion by 2026. The growing list of components that are manufactured by outsourced entities is increasing in diversity based on the fundamental changes in the automotive industry including, Electrical Vehicles and Autonomous driving among many others.
Sri Lankan inventors and entrepreneurs have over decades been engaged in designing, developing, and producing components for the automotive industry. The numerous patents owned by persons of Sri Lankan origin and the specialised component manufacturing performed for extended periods for renowned global automobile brands are witness to the country’s engagement and expertise in this sector. Today, several companies produce components including harnesses, sensors, and protective components for the automotive industry.
The flare and capability of the sector has also been displayed to the world through a local company, which is considered to be the first outside of the first world to produce an electric supercar which has an impressive performance record of 0 - 100 under 3 seconds and a top speed of 250mph. The company has also built an electric three-wheel vehicle and an all- terrain vehicle, which demonstrates Sri Lanka’s capabilities and capacity.
Sri Lanka is also home to one of the world’s best impact sensor switches for seat belts and airbags manufacturers that work with the world’s most renowned brands. With a network of global offices and the technology from Japan, the portfolio of clients includes automobile giants such as Toyota, Nissan, Honda, Mitsubishi & Mazda, Ford, General Motors and Chrysler, Volvo, SAAB, BMW, Aston Martin, Opel and Renault. With a default rate of 1 part per million (1 PPM), provides ample credentials of Sri Lankan exporters in this sub-sector.
Sri Lankan Electrical and Electronics industry is in a constant state of research and development in order to provide the best quality products suiting the standards of the global market. The wide variety of products and exporters cover every aspect of the industry
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