Creating markets can be intimidating to navigate; however, it can also be frustrating as it can take time. Nevertheless, it is utterly rewarding knowing the impact you’re encouraging. Successfully entering new markets like Sri Lanka is down to working with the right partners, understanding the market and forecasting the future.
This article dives deep into the fiscal issues of the country, the ambition for EVs and the consumer demand.
In the buzzing landscape of two-wheeled commuting in Sri Lanka, a new era of efficiency, sustainability, and innovation is on the horizon. As e-commerce rises and demand for convenient delivery services grows – making it the most common form of commuting – adopting electric motorcycles will enhance lives and boost incomes for ONE MOTO vehicle users.
Current Landscape of Delivery Market in Sri Lanka
Sri Lanka’s delivery market has experienced significant issues both geo-politically and fiscal in recent years, increasing internet penetration, and changing consumer preferences. Recent statistics project that the e-commerce market in Sri Lanka will reach USD 2.1 billion by 2025, growing at a compound annual growth rate (CAGR) of 23.7% from 2020 to 2025. Huge figures, too optimistic? We’ll roll with the analysts data for the purposes of demonstrating the benefits and our rationale.
In this dynamic landscape, delivery plays a pivotal role in fulfilling the needs of consumers, businesses, and the economy at large. Two-wheeled commuting is commonplace in Sri Lanka, where students, workers, and delivery services rely heavily on motorcycles, impacting air quality due to the predominance of petrol vehicles—for now. Across Colombo you can taste the pollution, the humidity and heat holds a blanket of smog to your airways, there’s no escaping it. Yet the solution provided has complications.
Introduction of Electric Motorcycles and Bike Taxis
ONE MOTO, built with a mission to bring change are spearheading the transition towards sustainable last-mile delivery solutions in Sri Lanka and we do this by working with equally committed partners. Some of the issues are access to electricity, yet our partners have delivered solar systems across their facilities to provide free, clean charging for their employees. One step towards a positive change.
By harnessing the power of renewable energy, these vehicles not only reduce operational expenses but also contribute to mitigating air pollution and combating climate change – a pressing concern for the island nation.
Moreover, the emergence of bike taxis, powered by electric motorcycles, has further transformed urban mobility in Sri Lanka. These agile and eco-friendly vehicles provide an affordable and convenient transportation option for riders, while also alleviating traffic congestion and enhancing overall urban liveability.
One of the benefits of ONE MOTO is the modularity of our vehicles to suit the markets we enter. We aim to provide premium, affordable mobility for all markets, recognising that not every territory requires the highest-performing, longest-range vehicles (like our GTe collection), which come with a higher price point. Industry analysts project a CAGR of over 25% for the electric motorcycle market in Sri Lanka, underscoring the immense potential for growth and innovation in this sector.
Market Nuances
Some of the issues surrounding the country are the low-cost, poor quality imports arriving from their neighbours, understandable with the currency issues and fiscal contractions. Cost is always a conversation, but should it be the sole ‘driver’ to create the sale? Or do you offer a premium product you guarantee your customers can afford? Yeah, we do too!
ONE MOTO are always open to discuss new territories, create a market from ideals, connect with us, and let’s see where the conversation leads.
