SK Group Korea’s largest wireless service provider has decided to increase its investment in Micro Holdings Sri Lanka’s only automobile assembly company.
SK Group initially invested in Micro Holdings in April 2017, has decided to enhance its investment in the company after taking in to consideration the greater potential Micro Group has in the automotive and real-estate industries of Sri Lanka.
“Micro has done significantly well in the market after being the exclusive franchise for the prestigious MG brand in early 2018. And just within few months The MG ZS SUV became the best-selling SUV in the market,” an official from SK Group said in Colombo. Micro Holdings and its efforts to revolutionize the local automobile and transport industry has brought the attention of SK Group to invest in Micro Holdings with the focus to strengthening its market position and to support its future endeavors”.
A Fortune 50 company and Korea’s third largest multinational, SK Group being one of the largest EV battery manufactures in the world, plans to bring in new technology to Sri Lanka through Micro Cars and diversify its automobile product portfolio focusing on E-Mobility which is the future of the automobile/transport industry.
Through the years the company has fostered a policy of planned growth which has resulted in diversification in to civil engineering / construction, shipping, trading, semi-conductors, EV batteries, rent-a-car and hospitality along with its own Hotel chain WALKERHILL as well as top-notch international brands such as TOMMY HILFIGER and DKNY.
Providing economic and social opportunities and benefits that result in positive multiple effects such as better accessibility to markets, employment opportunities and infrastructure developments and also to the increased demand in the automobile industry in Sri Lanka, SK Group identifies the potential in the economic growth in Sri Lanka.
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