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Monday November 9th, 2026

The King Goes Hybrid — Range Rover P400E Autobiography

The latest Range Rover (P400E) features is a plug-in hybrid (PHEV), priced at over LKR50mn

When the covers came off the very first Range Rover in June of 1970, the whole world sat up and took notice, because there was nothing on four wheels that offered such a combination of abilities. It could seat five in enclosed comfort, carry a sizable amount of goods, do 160kmph on road (without falling over at the first corner) and could go off-road just as well as the farmer’s favourite series Land Rovers, thanks to long-travel coil springs and a compact footprint. Press and public alike loved the thing and it was even exhibited at the Louvre in Paris as an “Exemplary work of industrial design”!

Originally launched as a fairly utilitarian thing with a hose-down interior, it didn’t take long for Rover to realize that buyers were asking for more luxury. They delivered one with nicer trim and more toys, a four-door version in 1981 and more. The original Range Rover lasted an incredible 26 years on the market and by the time it was finally replaced in 1996 it had established a practically unassailable position as the one-true-king of SUV hill.

Subsequent generations kept the flag flying despite ever increasing competition and the current fourth generation model (which has been around since 2012) keeps to the tradition of being at the peak of its class while still being constantly improved. Compared to the last model, this one is nearly half a ton lighter, thanks to a completely aluminium monocoque structure, though it’s still no lightweight. The biggest news is the introduction of the Plug-in Hybrid; For the first time ever, a Range Rover has a four-cylinder engine under the bonnet. Does that make it a neutered shadow of its proper V8 self? That’s what we’re here to find out.

Interior adorned with wood and leather — you’re not left wanting for much inside

Opening the door triggers an electric side step to appear from under the sill, to make Sir/Madam’s egress as easy as possible, of course. The other big change with the refresh is the interior, which has adopted the same multi-screen layout and touch-sensitive controls first seen in the Velar. Visually, it’s very impressive because the only physical controls are two temperature knobs and a volume control, with everything else controlled by dual touch screens in the console. Even the instrument panel is a completely customizable LCD, which is actually something Jaguar/Land Rover has been doing for a while now. It really does feel like you’re on the bridge of the starship Enterprise from the driver’s seat, but while this stuff is mighty impressive, touch controls instead of physical buttons mean that you actually need to look away from the road at the screen if you want to deal with most functions, which is rather silly.

Speaking of functions, the amount of ways to keep yourself amused in the interior of the RR is endless. For example, the seats can be adjusted in a multitude of ways and include extendable thigh support as well. Electric lumbar support is obviously expected at this level but here you get full on massaging seats! With multiple different massage choices! While that may sound like a gimmick, when activated it seriously feels like a trained masseuse is inside the seat working on your back and is something that really needs to be experienced to be understood. Oh, and the seats have both heating and, more importantly in our climate, cooling options, that work brilliantly well. All of these features are available to rear passengers as well

Fast in a straight line, the P400E didn’t do too badly on these mount-roads. But, a sportscar it is not

Many words in and we still haven’t talked about how it drives. Firing up is via button and thanks to the electric motor, if the battery is charged the engine doesn’t fire up at all on power up. The power-unit consists of JLR’s 2.0L “ingenium” turbocharged four cylinder, combined with an 85KW electric motor. If fully charged, the P400E can travel upto 49km on electricity alone and even go upto 136kmph, which is useful. In theory, if you plug it in every day and primarily use it for commuting in the city, it’s possible to run it completely on electricity alone. But that would be a shame, because on the open road this thing is rather brilliant. The combined output of the two motors is 398bhp and a staggering 640Nm of torque. Though the P400E weighs a porky 2,500kg, the sheer force generated by the powertrain is more than enough to make it move very briskly indeed. In fact, Land Rover says that this is the second quickest Range Rover after the Superchaged V8. 0-100 is ticked off in 6.7 seconds and the top speed is claimed to be 220kmph, which we believe. The way this thing rolls down the road is relentless; at whatever speed, serious shove is only an ankle flex away. Unlike some four-cylinder/electric combinations, it doesn’t run out of breath at the top end, nor does the battery being low affect the power output, so pretty much any on-road situation is dispatched with imperious ease, and it keeps pulling hard well into extra-legal speeds.

The laws of Physics still apply though, so when the road gets twisty and undulating, you need to slow down a bit. Air suspension and full-time four-wheel drive work together to manage traction and body movement fairly well, but this is still a long, wide, tall and heavy object so you can feel all of that when pushing hard. There’s a fair bit of body lean, and the suspension set-up is clearly tuned more for wafting than corner carving, but it will gamely hang on. Case in point, during our test we had the more driver-focused Range Rover Sport on hand and big brother managed to keep it in sight during a brisk drive up a twisty mountain road. So, the big Range can certainly hustle.

So, on road it’s good, what happens off road? Unlike basically any other 4×4 with luxury pretentions, the Range Rover does not compromise at all on the off-road hardware. You get locking differentials, a proper low range, height adjustment via the air suspension and Land Rover’s “Terrain Response 2” off-road programmes, which have a setting for basically anything you’ll encounter off the beaten path, from muddy ruts to desert sand. Seeing as this is a rather expensive vehicle, we didn’t do any serious rock crawling, but on some muddy trails it proved to be totally unstoppable, gliding along as if it were being driven to the shops on Galle Road. We can safely say that whatever you throw at it, the Range Rover can handle.

Our test car now retails upwards of a rather eye-watering LKR54mn, (it was LKR38mn when we first tested it in 2018) which is a sum that can get you a remarkable range of vehicles, from luxury sedans to sports cars (and of course, multiple different vehicles if you prefer). Not to mention, even at our insane property prices, a pretty decent house or apartment is also an option. When a vehicle costs as much as a property, it does need a bit of thinking about. Still, if we’re honest, the Range Rover is such an incredibly complete package that is so good at basically everything you’d use a vehicle for, that even at that number it somehow seems like a worthwhile purchase. Also keep in mind that the only vehicle that can really come close to the Range Rover’s combination of luxury and go anywhere ability is perhaps something like the Lexus LX570 and thanks to our tax bands, those will be over twice as expensive due to engine capacity. So the Range Rover P400E is basically in a class of it’s own. Pretty much business as usual, then.

Although a two-litre engine might not sound like much, combined with the electric motor, it’s the second-fastest RR on offer

Engine: 2.0 litre 4-cyl turbocharged petrol with 85kW single electric motor, 398bhp, 640NM
Gearbox: 8-speed automatic
Performance: 0-100kmph 6.7secs, 220kmph

Price: LKR53mn (Short Wheelbase), LKR54.5mn (Long Wheelbase)

*Prices are accurate for model and trim specified at the time of publishing

Sajiv is an automotive journalist with a deep-seated love of cars and a wide range of automotive tastes.

Sri Lanka stocks close up 1.37-pct, banks lead turnover

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed up on Monday, CSE data showed, with the benchmark All Share Price Index moving up 1.37 percent.

The ASPI was up 291.72 points at 21,531.37, while the more liquid S&P SL20 was up 1.67 percent, or 100.96 points, at 6,146.34.

Positive contributors to the ASPI were Commercial Bank of Ceylon (up 2.86 percent at 216.00 rupees), Hatton National Bank (up 1.52 percent at 399.75 rupees), Asiri Hospital Holdings (up 12.86 percent at 31.60 rupees), Tokyo Cement Company (up 5.22 percent at 84.70 rupees), and Access Engineering (up 3.93 percent at 81.90 rupees).

Carson Cumberbatch (down 4.24 percent at 712.00 rupees), Richard Pieris and Company (down 2.43 percent at 28.10 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), Renuka Holdings (down 2.63 percent at 37.00 rupees), and Chevron Lubricants Lanka (down 0.61 percent at 204.25 rupees) were top negative contributors.

Market turnover was 3.33 billion rupees. The S&P/CSE Banks Industry Group led turnover with 667.76 million rupees.

The session saw heavy crossings, according to Raynal Wickremeratne, Head of Research and Strategy at NDB Securities. Significant crossings included Keells (23 million rupees), Distilleries Company (27.7 million rupees), Sunshine Holdings (30.6 million rupees), Commercial Bank (32.4 million rupees), Ceylon Tobacco Company (35.6 million rupees), Hatton National Bank (39.5 million rupees), Prime Lands (40.5 million rupees), and HAS Holdings (41.5 million rupees).

In corporate news, Hayleys Retail Holdings Ltd announced it has partnered with supply chain software provider Blue Yonder to build and scale an AI-native grocery supermarket chain across Sri Lanka. (Colombo/Nov09/2026)

 

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Sri Lanka’s Hayleys Retail to launch supermarket chain with Blue Yonder

ECONOMYNEXT — Hayleys Retail Holdings Ltd has selected supply chain software provider Blue Yonder to build its grocery retail operations from the ground up, the two companies said in a joint statement.

Hayleys Retail, a member of Sri Lanka’s diversified conglomerate Hayleys Group, plans to open several stores in the near future to serve consumers across the country. The agreement marks Blue Yonder’s first retail customer in Sri Lanka.

“Our entry into supermarket retail is about bringing that same commitment to quality and reliability closer to everyday Sri Lankan consumers,” Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC said.

“With Blue Yonder, our teams will have AI-driven insight to deliver a seamless, consistent shopping experience across every store,” he said.

Hayleys, which accounts for approximately 5 percent of Sri Lanka’s export income and operates across 17 business sectors, is entering the large-scale supermarket space by drawing on its group strengths in manufacturing, logistics, and services.

The company selected Blue Yonder to connect its data across merchandising and shelf space, deploy artificial intelligence agents to catch operational issues early, and scale its business into a national network without changing platforms.

The rollout will begin with merchandise operations to manage suppliers, items, costs, and pricing, followed by machine learning capabilities to forecast demand and balance store inventory during seasonal peaks.

“Hayleys Retail is choosing one where AI is the foundation rather than an add-on—connected data and agentic AI built into core merchandising operations, and planning that learns as the business grows,” Antonio Boccalandro, President, APAC at Blue Yonder said.

The retailer plans to use the platform to automate routine store tasks and adjust inventory according to real-time sales and local market trends as its store footprint grows. (Colombo/Nov09/2026)

 

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Sri Lanka’s Citrus Leisure extends Lotus Tower management pact

ECONOMYNEXT – Sri Lanka listed hospitality firm Citrus Leisure said it has extended an agreement to manage consumer-facing and entertainment spaces at the Colombo Lotus Tower, which includes revolving restaurant Blue Orbit, until June next year.

The initial agreement signed between Citrus Leisure and Colombo Lotus Tower Management Company (Private) Limited (CLTMC) is due to expire on December 11.

“The Board of Directors of CLTMC at meeting held on 2nd November 2026 has resolved to extend the term of the Management Agreement and continue the existing Management Agreement until 30th June 2027, to which the company has given its concurrence,” the company said in a market filing.

Citrus Leisure Plc opened its revolving restaurant at the Lotus Tower in December 2023.

The company signed a 3-year agreement with CLTMC in May 2023 to provide services in the management of (l) the banquet hall 1 on the 25th floor, (2) the banquet hall 2 on the 26th floor, (3) the revolving restaurant on the 27th floor, (4) the 6 suites situated on the 28th floor and the kitchen in the basement floor of the Colombo Lotus Tower.

The 350-meter or 1,150-feet tower, the tallest in South Asia, was built at a cost 104.3 million US dollars with 80 percent of the money borrowed from Exim Bank of China.

Located in the commercial heart of Colombo, the tower has been called a symbolic landmark of Sri Lanka as well as a colossal white elephant and has been mired in controversy for years. (Colombo/Nov9/2026)

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CIC Holdings Sept quarter net profit rises 20-pct to Rs1.7bn

ECONOMYNEXT — Sri Lanka conglomerate CIC Holdings recorded a net profit of 1.66 billion rupees for the quarter ended September 30, rising 20.3 percent from 1.38 billion rupees in the same quarter last year, interim accounts showed.

The group posted basic earnings per share of 0.87 rupees for the September quarter, up from 0.73 rupees a year earlier.

Quarterly revenue grew 3.4 percent to 20.89 billion rupees from 20.20 billion rupees, supported by broad-based growth across industrial solutions, livestock, and healthcare segments, which counterbalanced relative demand moderation in agricultural inputs.

Cost of sales rose 5.3 percent to 15.20 billion rupees, outpacing revenue growth and causing gross profit to contract marginally by 1.2 percent to 5.68 billion rupees.

Results from operating activities dropped 7.3 percent to 2.66 billion rupees from 2.87 billion rupees, impacted by higher operating overheads.

Selling expenses expanded 6.8 percent to 2.15 billion rupees, and general and administrative expenses climbed 5.8 percent to 1.07 billion rupees, while other operating income dropped 29.6 percent to 117.40 million rupees.

However, operating profits were cushioned by an impairment reversal on trade receivables of 85.83 million rupees, turning around from an impairment provision of 23.38 million rupees in the corresponding quarter last year.

Net finance costs climbed 35.4 percent to 712.25 million rupees from 526.01 million rupees.

The increase was driven by a 30.8 percent rise in finance expenses to 771.46 million rupees, primarily reflecting higher interest expenses on loans to finance elevated working capital and inventory requirements.

The quarter’s bottom line was strongly bolstered by CIC’s equity-accounted investment in John Keells Holdings PLC (JKH).

Share of profit from equity-accounted investees surged more than fourfold to 590.50 million rupees from 257.87 million rupees, driven by JKH’s strong profit expansion during the period.

The group also recognized a gain on bargain purchase of 55.59 million rupees during the quarter resulting from additional share purchases in JKH where the proportionate net asset value exceeded acquisition cost, compared to no such gain a year earlier.

With associate income gains offsetting operating margin contraction and higher borrowing costs, group pre-tax profit held virtually flat at 2.59 billion rupees, down 0.11 percent.

Income tax expense fell 29.4 percent to 606.24 million rupees from 858.71 million rupees, driving total group profit for the period up 14.1 percent to 1.98 billion rupees.

Total group assets stood at 108.58 billion rupees as of September 30, up from 99.75 billion rupees at the end of March 2026.

Group net asset value per share increased to 25.52 rupees from 22.10 rupees a year earlier.

CIC Holdings’ ordinary voting shares closed at 27.80 rupees at the end of September.(Colombo/Nov09/2026)

 

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Sri Lanka stocks trend up; ASPI gains 0.78-pct

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trading higher on Monday, CSE data showed, with the benchmark All Share Price Index moving up 0.78 percent.

The ASPI was up 165.73 points at 21,405.38, while the more liquid S&P SL20 was up 0.61 percent, or 37.04 points, at 6,082.42.

Positive contributors to the ASPI were Commercial Bank (up 1.55 percent at 213.25 rupees), Ceylon Cold Stores (up 2.61 percent at 128.00 rupees), Asiri Hospital Holdings (up 10.00 percent at 30.80 rupees), Hemas Holdings (up 1.27 percent at 32.00 rupees), and Ambeon Holdings (up 6.02 percent at 37.00 rupees).

Namunukula Plantations (down 3.92 percent at 63.70 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), and Chevron Lubricants Lanka (down 0.12 percent at 205.25 rupees) were top negative contributors.

Market turnover was 428.31 million rupees. Capital goods led turnover with 82.53 million rupees. (Colombo/Nov09/2026)

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Sri Lanka rupee at 332.54/58 to US dollar spot, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 332.54/58 to the US dollar spot on Monday, stronger from 332.55/60 Friday, while bond yields held broadly steady, dealers said.

A bond maturing on 15.09.2029 was quoted at 10.90/95 percent, up from 10.85/95 percent.

A bond maturing on 01.08.2030 was quoted at 11.00/10 percent, down from 11.05/10 percent.

A bond maturing on 01.02.2031 was quoted at 11.10/20 percent, up from 11.10/15 percent.

A bond maturing on 15.12.2032 was quoted at 11.58/68 percent, up from 11.55/65 percent.

A bond maturing on 01.06.2033 was quoted at 11.80/95 percent, up from 11.80/85 percent.

A bond maturing on 15.10.2034 was quoted at 12.08/15 percent, up from 12.05/12 percent.

A bond maturing on 15.08.2036 was quoted flat at 12.30/40 percent.

The telegraphic transfer rate for the dollar was 328.05 buying, 337.05 selling; the euro was 363.3528 buying, 377.1336 selling; pound was 437.5954 buying, 451.7038 selling.

On the Colombo Stock Exchange the All Share Price Index was up 0.78 percent, or 165.42 points, at 21,405; while the S&P SL20 was up 0.58 percent, 35.19 points, at 6,080.

90,000 million rupees Treasury bills are to be issued through an auction on November 11. (Colombo/Nov9/2026)

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