Sri Lanka, July 19 -- Economic experts suggest that the updated guidelines issued by the Central Bank of Sri Lanka (CBSL) for motor vehicle financing may somewhat discourage the purchase of electric vehicles (EVs).

Economist Dhananath Fernando stated that since the loan-to-value (LTV) ratio for certain vehicles has been reduced under these new guidelines, the current interest in vehicle imports could change in the future.

The CBSL recently introduced guidelines on the maximum amount of a vehicle's value that can be financed through bank loans or financial institutions, as most individuals seek such facilities for vehicle purchases.

Previously, electric vehicles could secure bank loans covering up to 90% of their value, while non-electr...