FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Price Movement in Brent Co., WTI Co., and CEYPETCO Price Revisions Since Hamas' Attack on Israel in October 2023
by pramu perera Mon Oct 07, 2024 10:49 pm

» Stocks on the Radar at CSE
by cpriya Sun Oct 06, 2024 11:24 pm

» Global Rice prices drops
by Rare Sun Oct 06, 2024 3:19 am

» Post-election winners.
by Rare Thu Oct 03, 2024 1:01 pm

» Construction Giant's IPO - Access Engineering
by shiraz latiff Thu Oct 03, 2024 12:43 pm

» ACCESS Engineering,my target Rs. 26/-
by shiraz latiff Thu Oct 03, 2024 12:41 pm

» Access Engineering awarded two more contract packages at Colombo Port
by shiraz latiff Thu Oct 03, 2024 12:39 pm

» Asha Securities and Asia Securities Target AEL (Access Enginnering PLC )
by nilantha suranga Thu Oct 03, 2024 12:36 pm

» ACCESS ENGINEERING PLC (AEL) Will pass IPO Price of Rs 25 ?????
by Anushka Perz Wed Oct 02, 2024 10:33 am

» History Repeat Access Engineering PLC
by sakuni Wed Oct 02, 2024 10:31 am

» Asian stocks drift higher amid rate cut speculation; Japan lags
by Rare Mon Sep 30, 2024 1:29 pm

» Sri Lanka: Light Rail Transport (LRT) at what opportunity cost?
by God Father Mon Sep 30, 2024 7:52 am

» Sri Lankan companies with small market cap
by Rare Sat Sep 28, 2024 4:41 am

» Large cap Sri Lankan companies
by Rare Sat Sep 28, 2024 4:36 am

» Gold, copper, iron and aluminum no more bargain
by Rare Sat Sep 28, 2024 4:25 am

» Reinstatement of SLT-Mobitel's ETA System for Streamlined Visa Processing
by pramu perera Fri Sep 27, 2024 8:49 pm

» Oil prices fall further
by Rare Fri Sep 27, 2024 12:20 pm

» Sri Lanka rupee closes at 275/290 to the US dollar
by Rare Thu Sep 26, 2024 11:58 am

» Bullish about a sustainable turnaround - CSE Chairman
by Rare Wed Sep 25, 2024 1:51 pm

» Can NPP secure majority in Parliament?
by God Father Wed Sep 25, 2024 9:41 am

» Growing superstar LVEF 14+
by ddrperera Wed Sep 25, 2024 8:53 am

» Why Central Bank Governor Nandalal Weerasinghe should Resign?
by God Father Tue Sep 24, 2024 2:22 pm

» Can AKD win the upcoming Parliamentary Election ???
by pramu perera Mon Sep 23, 2024 10:46 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

Young entrepreneur prepares to take on world with unique electric-turbo car

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

By Quintus Perera
A fully electric-turbo car designed and manufactured by a youthful Sri Lankan entrepreneur-technologist – 26-year-old Nilanga Senevirathne of Kalubowila - is likely to capture not only the local market, but the international market too.

Young entrepreneur prepares to take on world with unique electric-turbo car Car_110
Nilanga at the wheel of his creation. Pix by Quintus Perera

The “Elca” (Electric Car) is apparently extremely economical in both purchase price and running cost and the model would be universally acceptable as the car is totally environmentally friendly. The Business Times (BT) met Mr Senevirathne at his residence and watched with awe his invention – completely done by him alone, manufactured with 60% of local material. A great lover of the nature and environment, his intention also is to go into fully green production and his electric car is indeed compatible to his love of the nature.

Over a cup of tea he told the BT that the average 4-seat cars that are available in Sri Lanka would cost around Rs 1.4 million but his Elca electric-turbo car when it is marketed would cost only half the price at Rs 0.7 million and the cost per kilometer would be around Rs 3 whereas the conventional 4-seat cars running cost per km would be around Rs 11.

He said that he has already received inquiries from around 18 different countries to purchase his cute ‘Elca’, while local inquiries are flowing in. Mr Senevirathne said that all the steps to market the product is complete and he has already earmarked a 5,000 sq ft factory located in the Kalutara Industrial Estate. Preliminaries have commenced to start manufacturing the vehicle with commercial operation taking around one year.

Elca has now been registered with the Registrar of Motor Traffic and a chassis number was given by RMV for his already manufactured car. An old boy of Thurstan College, Mr Senevirathne after his A’ Levels moved to Swinburne University, Malaysia to study Robotics and Negatron but at the half way stage moved to Coventry University, United Kingdom. He said that the locality in which this university is located is also the home for many vehicle manufacturing firms in the UK.


Nilanga Senevirathne and his mother
He said that the implementation of vehicle manufacturing projects are usually entrusted to university teachers and the undergraduates of Coventry University get good opportunities to be involved in these car manufacturing projects.

While he was studying in this University he got the idea of how to initiate vehicle manufacture, and he acquired all the plans in his mind and equipped with the first hand knowledge of the industry with all sophisticated and latest technology, before completing his studies. Mr Senevirathne has come back to Sri Lanka with the determination of floating his own car manufacturing company. In fact he has already has floated a company “NSE Automobile Engineers”.

Within one year of his coming back to Sri Lanka, he has completed the blueprints, project analysis, and feasibility reports and prepared on the drawing board his unique creation. According to Mr Senevirathne the product is unique as even though, electric cars are now being used, he says electric-turbo cars are not available anywhere in the world.

Seated along with his mother, in his residence in Kalubowila, Mr Seneviratne said that vehicles need high energy in climbing and electric cars are not normally susceptible to steep angled mountains but they are as yet modeled to run on flat roads.

He said that his Elca is fitted with two turbos working on wind power and they provide energy in case the vehicle is climbing. This car does not have an engine, but with only rechargeable batteries. Once in motion there is absolutely no sound and there are emissions.

This car initially is intended for urban usage but he said that once it is developed to be economically sustainable in mass scale production, island-wide recharging units could be established. Elca could run 80 to 100 km after the batteries are fully charged. He said that all the batteries and other panels and circuits are fitted under the seats. It could run as fast as 60 to 80 kilometres per hour. He said that he is developing a new kind of low weight batteries so that the vehicle would be more energy efficient. The present set of batteries weigh around 240 kgs and the ones he now develops, once complete would weigh around 90 kgs.

He told the BT that once marketing starts by around one year, the monthly production would be around 20 cars, with about 20 employees. Going by the demand for his highly economical Elca he is confident that he could sell his product like ‘hot-cakes’ and with the increase of production he could provide more and more employment and by utilizing local material large component of foreign exchange could be saved.

Due to its high economic advantage and high environmental friendliness, Sri Lankans are most likely to opt for this car than imported utility cars and its low-cost advantage and environmental-friendly advantage would also help to push exports. He receiving firm backing from the National Science Foundation to the extent that it has pledged to provide a loan of Rs 5 million and he is also confident that local banks would support to sustain his venture.

Mr Senevirathne is also extremely cautious of the prevailing conditions when such ventures are carried out as there are enormous pit-falls and under-currents that are not visible. As such he is determined to move carefully adhering to the dictum “slow and steady” – steady to be a great successor.

The BT has often revealed the exceptional talents and achievements of local entrepreneurs, industrialists and such other scientific inventions and often the paper has been told that some state agencies were a major stumbling block to take such ventures off the ground.

In fact Dr Lawrence Perera, the first successful large scale vehicle manufacturer in Sri Lanka revealed in public the debacles he faced at the hands of some bureaucrats. Further, there was a very viable and highly economical railway project he had submitted to the authorities which got blocked somewhere in the bureaucratic pipeline and never came off the ground.

Thus, it is vital that this young, enthusiastic entrepreneur is safeguarded with a protective net to prevent pulling him down or retarding his progress. There should be firm backing from all related parties for the project to be successful backed by investments and facilities to carry out research alongside the current developments in the trade.
http://www.sundaytimes.lk/120603/BusinessTimes/bt07.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum