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Sri Lanka Equity Forum » Stock Market Talk » Japan helps build electric three-wheeler in Sri Lanka

Japan helps build electric three-wheeler in Sri Lanka

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DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
Positive Business and Economic News for the country

Japan helps build electric three-wheeler in Sri Lanka
ECONOMYNEXT – A Japanese- Sri Lankan partnership has built an electric three-wheeler in the island to help replace the over one million fossil-fuel powered auto-rickshaws, known as ‘tuk-tuks’, the finance ministry said.

“There are several reasons for the shift from the fossil fuel tuk to the electric version, and environmental concerns are chief amongst them,” Finance Minister Mangala Samaraweera said .

As part of the Paris agreement, Sri Lanka has pledged to reduce greenhouse gas emissions by 10% in the transport sector by 2020. 

“One way to achieve this reduction is to convert the existing vehicles to ‘zero-emission’ vehicles, which would cause minimum levels of pollution and carbon footprint,” Samaraweera was quoted as saying at the launch of the electric three-wheeler. 

The electric three-wheeler was developed by Japan Sri Lanka Comprehensive Partnership secretariat and T-Plan Inc., an electric vehicle engineering firm.

“It is considered to have incorporated some of the cutting-edge technology available in this industry,” Samaraweera said. 

The first batch of electric three wheelers manufactured in Sri Lanka will be ready by mid-2020, in time for the 2020 Tokyo Olympics. 

“It is very exciting to hear that T-PLAN hopes to export the Sri Lankan made electric vehicles to Japan,” he said. 

“This would be the first of many technology transfer projects that are currently being incubated by the Japan Sri Lanka Comprehensive Partnership secretariat.” 

Under the Enterprise Sri Lanka credit schemes, the Ministry of Finance will incorporate a subsidised loan scheme to enable three-wheeler drivers to invest in additional services including meters, WIFI, and GPS facilities.

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