Sri Lanka’s 1.2 million ‘Tuks’ to undergo ‘e-Wheel’ Revolution I Sri Lanka Latest Business News

Electric three-wheel battery swapping technology arrives

A clean and affordable transportation solution is now available for Sri Lanka’s 1.2 million three-wheelers with Lanka E-Mobility Solutions (Private) Limited (LeMS), introducing electric three-wheel battery swapping technology, branded ‘e-wheel’ to local owners!

The launch of this novel battery-swapping technology means the three-wheeler owner no longer has to purchase a costly battery or worry about end-of-life replacement,  while the battery-swapping process takes a mere two minutes!  The most expensive component in any electric vehicle is the battery and when converting a petrol three-wheeler to an e-wheeler, the owner does not need to pay for the batteries as they are owned and managed by LeMS, as are the Swapping Stations. The e-wheeler owner only pays for the energy used on a ‘pay-as-you-go’ basis.

This marks a significant milestone in Sri Lanka’s journey towards sustainable transportation, with its founders being driven by the urgent need to reduce carbon emissions and combat harmful air pollution.   “Sri Lanka’s 1.2 million three-wheelers currently guzzle a staggering 5.5 million liters of petrol a day and each ‘e-wheel’ will help reduce that figure.  The e-wheel driver, often the breadwinner of the family, with a mere Rs 450,000 investment, can now save nearly Rs 20,000 per month”, said Managing Director of LeMS, Chaminda Rajapakse. “The advantages are prodigious, with savings on valuable FOREX spent on fuel imports, lubricants, and routine maintenance spare parts”.

LeMS was conceived in 2020 and incubated by Island Climate Initiative (ICI) over the last 2 years. ICI facilitates investment in circular economy, smart agriculture, and clean energy projects, and is dedicated to revolutionizing Sri Lanka’s transport industry with cutting-edge electric technology.

“We take existing petrol three-wheelers, remove their engine and replace it with a brand-new electric powertrain. The entire conversion process takes just two hours. Once converted, the vehicle can immediately start using our battery swapping services”, said LeMS Co-Founder & Director, Shirendra Lawrence. He added that battery swapping stations will initially be conveniently located across Colombo and its immediate suburbs, with expansions to Galle and Kandy, already being planned.  “Once converted, no oil changes or services are required. “What’s more,  to run a petrol three wheeler costs over Rs 20 a km, whereas the cost of running an ‘e wheel’ is less than Rs 15 a km. With Sri Lanka having more three-wheelers per capita than even India, the birthplace of three-wheelers, LeMS is committed to electrifying the country’s tuk fleet”.

“We, at Peoples Leasing & Finance PLC, are thrilled to be the exclusive finance and leasing partner in this groundbreaking e-Wheel Revolution. This initiative is not just a technological advancement; it aligns seamlessly with our commitment to Environmental, Social, and Governance (ESG) principles and represents a pivotal milestone in our sustainability roadmap” said Shamindra Marcelline Chief Executive Officer of Peoples Leasing & Finance PLC. He went on to say that “by supporting Lanka E-Mobility Solutions (LeMS) in introducing this innovative electric three-wheel battery swapping technology, branded as the ‘e-wheel,’ we are contributing to a cleaner and more sustainable transportation solution for Sri Lanka. This project is a crucial component of our broader sustainability initiatives, aiming to reduce carbon emissions and combat air pollution”

LeMS uses technology developed and tested for over six years by RACEnergy, a Hyderabad-based deep-tech company dedicated to advancing electric mobility. “We simply have the most advanced, lightest, safest and most energy-dense swappable battery in the market’ said Arun Sreyas, co-founder of RACEnergy.

LeMS’ innovative solution, being revolutionary and affordable, will mean more vehicle owners will be able to go green sooner, rather than later.

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