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Tuesday, October 26, 2021

An attempt to rebuild the vehicle market in Sri Lanka

The Vega Electric three-wheeler, the first electric three-wheeler to be manufactured in Sri Lanka, underwent a test run at the International Motor Race Course in Pannala recently.

The electric three-wheeler is scheduled to hit the market by April 2022, said Dr. Beshan Kulapala, Director, Vega Innovation.

He hopes to buy it at a lower price than the average three-wheeler currently imported and sold in Sri Lanka from India.

He says this will be a $ 2027 billion industry globally by 32 and his goal is to capture 10% of it.

The director of Vega Innovation says that this three wheeler is a Made in Sri Lanka product.

This is a fully electric three wheeler and it is very different from a normal three wheeler.

It can travel a distance of 100-120 km on a single charge, and due to the solar cell on the roof, it can be operated with greater force even when parked or in the middle of the sun, he says.

A typical three-wheeler can carry up to three rear passengers in addition to the front driver.

There is no place to put the luggage in the back of a normal three wheeler, but without an engine, the back space can carry all the luggage.

"Actually, this is not something we do targeting the Sri Lankan market. Sri Lanka is one goal. However, if you look at the world market, the current three-wheeler market in 2019 is $ 28 billion. By 2027, it will reach $ 32 billion. This means that this car is in great demand in the rapidly expanding world market. Suppose we target 10% of that market, which is $ 3 billion. A $ 3 billion business every year. ”

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