Seylan Bank and GS EVO Motors have signed a Memorandum of Understanding to launch a dedicated electric vehicle leasing facility, offering structured financing to make EV ownership more accessible in Sri Lanka.
The facility offers interest rates starting at 10% (AIR) with repayment terms of up to seven years — among the most competitive EV financing packages currently available in the market.
Fast-track approvals
Seylan Bank is promising 24-hour approvals through a dedicated leasing team, with doorstep assistance and complimentary consultation available through its islandwide branch network.
“Electric vehicles are becoming an important part of the future of mobility,” said Asiri Abhayaratne, Assistant General Manager of Marketing and Sales at Seylan Bank. The partnership aims to deliver “faster access to EV ownership while supporting environmentally responsible transportation.”
GS EVO Motors CEO Priyantha Perera said the collaboration would “make sustainable mobility accessible to a wider range of customers” by pairing vehicle availability with structured financing.
Timing and context
The partnership launch coincides with the introduction of a new EV charging station tariff category by the PUCSL on April 1, signalling a coordinated push across the financial and regulatory sectors to build out Sri Lanka’s electric vehicle ecosystem.
As the country targets 70% renewable energy generation by 2030 under its new World Bank partnership framework, the shift toward electric transport is expected to accelerate, creating opportunities for early movers in EV financing.