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Market leader drives ESG goals forward, turns over new leaf in passenger transportation

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President, David Pieris Group, David Pieris with his staff members including Chairman Managing Director Rohana Dissanayake, Director Cooperate Communication, Romany Parakrama and Director- Parts and Accessories Jayantha Ratnayake at the launch of electric three-wheeler

By Sanath Nanayakkare

Being proactive to make an impact on Environmental and Social Goals (ESG) and strategising for consolidating its market leadership in the rapidly changing mobility landscape, David Pieris Motor Company Pvt Ltd (DPMC) on Thursday launched E-drive, a model electric three-wheeler (tuk-tuk) taxi service for passenger transportation.

Kicking off with the deployment of 20 Bajaj three-wheelers as part of the emission-free pilot project, the company boasts electric conversion done here in Sri Lanka by DPMC, replacing combustion engine entirely and installing a battery pack, an electric engine,  gear, wiring, and more.

“As the experts of Bajaj vehicles in Sri Lanka, we can confidently guarantee the electric conversion done by DPMC. We are all too aware that only the correct conversion can ensure safety and comfort for the passenger travelling in the vehicle,” said Jayantha Ratnayake, Director – Parts and Accessories, David Pieris Holdings Pvt. Ltd and David Pieris Automotive Cluster.

“These three-wheelers will initially operate in Colombo and its immediate suburbs. The vehicles can easily be identified due to their unique white and green branding and the service will be available from 7 am to 7 pm from Monday to Saturday. They can be hailed down on the road, booked via the YOGO taxi-hailing mobile app and through a dedicated hotline 077 7 606077,” he said.

“The drivers of the E-drive taxi service have been trained not only on how to drive this vehicle but have also received refresher training in road rules and road etiquette. In addition, all vehicles are monitored centrally by the company. The drivers will be wearing an E-Drive uniform, and their details will be displayed in the vehicle for customer’s information, along with a telephone number to call in the event of any issues,” he explained.

Responding to a query on taxi fares, he said,” “The fares are designed to be very affordable as these three-wheelers will charge a flat rate of Rs. 65 per kilometer with no added peak hour charges. The ability to pay easily with cash or credit/debit cards is a unique facility available in this service.”

The Island learned that DPMC is the first company to obtain approval to register their converted Bajaj three-wheelers. The company said that they want not only to use this platform to allow the public to use a greener, cheaper means of transport but also to ensure passengers get a safer ride with disciplined, trained drivers. They further said that smooth rides available due to reduced vibration and the quietest three-wheeler engine on the road would set new standards for three-wheeler taxi service in Sri Lanka.

President, David Pieris Group, David Pieris speaking to The Island said,” Green mobility concept is a done deal anywhere in the world now, particularly given the environmental and social concerns of the mobility sector. If we see a positive response from passengers and other stakeholders, we will focus on a fast-growing fleet. Otherwise, we would take an appropriate decision weighing the pros and cons of the market reaction. It is always best to test the waters before you fully commit yourself to a project like this because of possible external challenges you would find in your way. I do hope regulatory barriers resulting from lobbying won’t be one of them.”



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Report on the Final Budgetary Condition (Annual Report) – 2025 submited to parliament

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As per the provisions of section 51 of the Public Finance Managaement Act No. 44 of 2024, the public should be issued with a report on the final budgetary situation for each year and, the report is then published in the official website of the Ministry of Finance, Planning and Economic Development.

Thereby the report has to be submitted to the Parliament. The final budgetary situation report (Annual Report) – 2025 has been prepared by the Ministry of Finance, Planning and Economic Development and published. The report contains the Public Finance Policy, strategies and challenges, economic trends in 2025, macro – economic and socio – economic indicators covering all sectors of the economy as well as description on the global economic growth.

Furthermore, it accompanies a detailed description government revenue and expenditure, cash flow management, financing the budget deficit and the loan structure.

Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the Report on the Final Budgetary Condition (Annual Report) – 2025 to Parliament.

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Cabinet nod to accept increased Loan Grant provided by the Asian Development Bank under Policy Based Loan Facilities – 2026

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Approval of the Cabinet of Ministers was granted at their meeting held on 16.03.2026 to obtain United States Dollars 380 million from the policy – based loan facilities of the Asian Development Bank in the year 2026.

United States Dollars 100 million out of it is allocated for Trade, Investment and Industries Development Programme – Sub Programme 1. However, amidst the economic uncertainty resulting from the current Middle East crisis and the climatic tragedies, the Asian Development Bank has agreed to assist
by increasing a supplementary financing package of United States Dollars 100 million so that it will beMincreased up to United States Dollars 200 million.

Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to take further measures to obtain the said loan grant.

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Submission of Revenue Protection Order Prepared under the Provisions of the Revenue Protection Act No. 19 of 1962 to the Parliament for its approval.

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Approval of the Cabinet of Ministers was given at the meeting held on 23.02.2026 to impose the custom import duty amounts under four (04) categories as 0%, 10%, 20%, and 30% which had been executed only under three (03) categories in order to increase the target export income of the country, to execute the
recommendations of the national customs duty policies committee, and to implement new national sub division customs codes for promoting the local agricultural and industrial sector.

Imposing provisions in relation to the above, the Revenue Protection Order – No. 01/2026 under the Revenue Protection Act No. 19 of 1962 has been published in the extraordinary gazette notification No. 2478/03 of 03.03.2026.

Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to submit the said revenue protection order to Parliament for its concurrence.

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