Electric vehicles (EVs) are moving from early adoption to the mainstream. For consumers, particularly in smaller and import-dependent markets, the central question is now whether electric mobility makes economic sense over a decade or more of ownership.
Virann De Zoysa, Group CEO at Evolution Auto, says EV adoption is accelerating, but consumers still have certain concerns left over from the early days of the technology. In a recent interview, he explained how Evolution Auto has addressed these concerns by building its electric vehicle portfolio around global-scale, state-backed manufacturers and proven technology suppliers.
Curating Credibility Over Convenience
Evolution Auto’s brand strategy favours long-term risk assessment over simple market gap analysis. According to De Zoysa, the company deliberately avoided assembling a portfolio based on the most convenient or inexpensive options. Instead, it focused on partnering with what it believes are the most credible manufacturers in each vehicle segment.
“Electric mobility,” De Zoysa says, “is not simply a replacement of engines with batteries. It is a technology shift involving software, electronics, energy storage and long-term system support. In that context, brand selection becomes critical.”
In two-wheelers, Evolution Auto represents Ather, widely regarded as India’s most technologically advanced electric scooter brand, and Revolt, India’s leading electric motorcycle. In three-wheelers, the company works with Mahindra, India’s leading EV three-wheeler manufacturer. Its four-wheeler portfolio includes AVATR from Changan, IM Motors from SAIC, XPENG, and Riddara from the Geely Group. For commercial vehicles, Evolution Auto partners with manufacturers such as King Long and KYC, both of which have extensive global fleet experience.
Evolution Auto is owned by the Sino Lanka Group, which brings over 33 years of experience across industries including hospitality, education and sustainability.
Why Scale and State Backing Matter
Most of Evolution Auto’s partners are state-owned or globally significant manufacturers. De Zoysa says this is intentional, given that EV buyers are entering technology ecosystems that must remain viable for 10 to 15 years when they purchase a vehicle.
This was a key reason Evolution Auto prioritised manufacturers such as SAIC’s IM Motors, which he notes “has produced over 90 million vehicles, is China’s largest automotive group, and a 23-times Fortune Global 500 company.” Changan, another state-owned partner, is part of China’s “Big Four.”
For Sri Lankan consumers, this translates into continuity, parts availability, software updates and long-term technical support.
The Invisible Giants Behind the Vehicles
In the EV sector, brand credibility extends beyond the vehicle manufacturer. Battery and software suppliers now play a much larger role in determining performance, safety and lifecycle costs.
Most of Evolution Auto’s partner brands rely on CATL, the world’s largest EV battery manufacturer, which also supplies Tesla, BMW, Mercedes-Benz and Volkswagen. On the software side, Huawei provides automotive operating systems, advanced driver assistance systems, infotainment and vehicle connectivity.
De Zoysa believes the average consumer increasingly recognises that these are no longer experimental technologies, and that Sri Lankan buyers benefit from the same technology used by the world’s leading automotive brands.
The Economics of Ownership
“The strongest case for EV adoption lies in economics,” De Zoysa says. “In Sri Lanka today, EVs cost around 30% less to purchase than equivalent internal combustion engine vehicles. Energy costs are typically 15–20% of fuel costs, and maintenance expenses are approximately 70% lower.”
EVs also require no oil changes, clutches or many of the wear components associated with traditional vehicles. When assessed over a five- to eight-year ownership period, the total cost of ownership (TCO) is significantly lower. This, he says, explains why global EV adoption accelerates most rapidly once consumers experience ownership.
A Structural Advantage for Sri Lanka
Beyond individual savings, the benefits extend to the national level. Sri Lanka spends over US$4 billion annually on fuel imports. EV adoption counters this by reducing foreign exchange outflows, improving energy security and shifting transport demand towards locally generated electricity.
De Zoysa adds that lower urban pollution also has measurable downstream effects on healthcare costs. In this context, electric mobility functions as an economic policy tool rather than a purely environmental initiative.
Addressing Battery Anxiety
Consumer concerns around battery longevity remain widespread, but the data tells a different story. Modern lithium-ion batteries from manufacturers such as CATL are designed to outlast the usable life of the vehicle itself.
De Zoysa shares real-world data showing that after eight years or 200,000km, most EV batteries retain over 80% of their capacity. Fleet vehicles and taxis in multiple markets have exceeded 300,000km on original batteries.
“Degradation is gradual, like with ICE engines,” he says. “Outright replacement is rare, and the rest of the vehicle remains perfectly usable.”
Leading the Transition
“Evolution Auto’s ambition extends beyond vehicle sales,” says De Zoysa. “The company aims to position itself as Sri Lanka’s most credible EV partner, prioritising technology, safety and long-term value while acting as a platform for global best-in-class mobility solutions.”
As electric mobility becomes increasingly central to transport economics rather than environmental positioning alone, Evolution Auto aims to establish itself as a long-term platform for credible, globally aligned mobility solutions in Sri Lanka. De Zoysa says this focus on technology, scale and continuity will define the company’s role in the country’s electric transition.