Colombo: Sri Lankan car company Micro Cars Ltd will export locally assembled South Korean Sports Utility Vehicle (SUV) SsangYong Kyron to India from next year.
“There is a demand for quality SUVs in India,” Micro Cars Managing Director Lawrence Perera told reporters here.
The company has already sent test vehicles to India and received “very good” response, he said, adding Micro Cars would export its locally assembled Kyron SUVs to India from next year.
The company is manufacturing two SUV type vehicles with the price staring from 7.5 million Sri lankan Rupees (around $68,000).
He said the company had invested Rs 300 million in the last six months for expanding its plant in Polgahawela, 60 kms north-east from Colombo.
Perera said the body of the vehicle, mirrors, seats and rubber component including the tyres would be manufactured in Sri Lanka.
“We are in the process of acquiring technology to have more local components to the vehicles,” he said.
Perera added that the price of the vehicle would be considerably less than that of a directly imported vehicle.
The move by the government to purchase locally made cars would help to save foreign exchange, he said.
Micro Car is now in a position to manufacture 50 units per month. ”This is why we are going in for exports,” he added.
The company manufactures around 300 vehicles which include cars, SUVs and Micro vans for the local market.
SsangYong Motor Company is the fourth largest South Korean automobile manufacturer.