Electric vehicle (EV) and charging station ecosystem eTukTuk, today announced that the company has entered into a partnership with Capital Maharaja Group (CMG), the number one privately held conglomerate in Sri Lanka, furthering its mission to introduce sustainable transportation powered by blockchain in Sri Lanka.
The partnership will facilitate the growth of the eTukTuk network throughout Sri Lanka, starting with the capital city of Colombo, providing affordable, accessible, and sustainable mass transportation solutions to drivers and passengers in the city, where over 1.2 million registered internal combustion engine (ICE) TukTuks on the roads are each emitting more carbon than a typical car. The partnership with CMG will allow for the strategic expansion of the eTukTuk network throughout Sri Lanka, and will further facilitate local partnerships on the ground to best serve the needs of the country and transition away from traditional carbon-intensive transportation networks.
Niro Cooke, Group Director on the Main Board at CMG, said, “eTukTuk’s holistic solution is what attracted us to the opportunity. It is not just a hardware solution — it is an all encompassing, sustainable, e-mobility ecosystem. The eTukTuk team has understood the key economic drivers in a market like Sri Lanka, and acknowledged the importance of local manufacturing and assembly against FBU (fully built-up) imports. Sri Lanka, in this instance, lends itself as the perfect test market for a solution of this nature.”
Seth Ward, Chief Information Officer at eTukTuk said, “eTukTuk is uniquely placed to enhance transportation systems across the globe. Forging a strong partnership with the Capital Maharaja Group will ensure that we have first-hand expertise and a deeper insight into the Sri Lankan markets to thrive and successfully launch on the ground later this year. eTukTuk is proud to have a partner with the calibre of CMG on board and it speaks volumes to the potential of the network in Sri Lanka in the coming years.”
With the launch of its platform in Colombo, Sri Lanka, later this year, eTukTuk will leverage blockchain to onboard millions of digital identities as part of the network to enable and empower drivers to diversify their income and earning opportunities in a sustainable manner.
eTukTuk is building an open network of charging stations and a proprietary three-wheeled electric vehicle on the blockchain to scale EV adoption and make sustainable transportation accessible for developing economies that need it most. The first automotive project built on Cardano, eTukTuk represents a real-world use case for blockchain technology. The eTukTuk team has spent years on the ground in Sri Lanka accruing first-hand knowledge of the market and building a network of prominent government and industry partners to ensure a successful launch in its first region. Join the eTukTuk community on Telegram, Twitter, LinkedIn, Instagram and Facebook. For more information, visit www.etuktuk.io.
About Capital Maharaja Group
The Capital Maharaja Group is one of the largest privately held group of companies in Sri Lanka, comprising over 20 operating companies across multiple industries, including chemicals, information communication technology (ICT), media, entertainment & communication, personal care & consumer products, plastics, infrastructure projects, shipping and logistics, and ceylon tea. For more information, visit https://www.cmg.lk.