CDB accelerates sustainable mobility in Sri Lanka in partnership with CodeGen

CodeGen Chairman and CEO Dr. Harsha Subasinghe (left) and CDB Managing Director and CEO Mahesh Nanayakkara

• Collaboration agreement signed with CodeGen to promote comprehensive ecosystem for EVs
• e Shift Concept Centre launched as landmark initiative in accelerating CDB’s sustainability mobility solutions

Continuing its unwavering mission of advancing the green economy, Citizens Development Business Finance PLC (CDB) launched the e Shift Concept Centre, as a step to accelerate the company’s sustainable mobility solutions focused under the Net Zero vertical of CDB’s Sustainability Agenda. 

This was rooted in a collaboration agreement CDB signed with CodeGen International Ltd. The agreement was signed recently by CDB Managing Director/CEO Mahesh Nanayakkara and CodeGen Chairman/CEO Dr. Harsha Subasinghe. 

As part of its Sustainability Agenda, CDB together with global and local partners, initiated the Haritha Coalition, designed to promote EVs and solar energy solutions to Sri Lanka. The e Shift Concept Centre therefore, is another of the progressive steps taken by this Coalition in which chargeNET, a subsidiary of CodeGen International which powers the charging stations at the Centre, is a partner. This collaboration accelerates CDB’s sustainability mobility solutions by promoting a comprehensive ecosystem for EVs with a focus on knowledge sharing, EV charging and EV conversion. 

The e Shift Concept Centre located at Green Path, Colombo 7, aims to educate individuals interested in sustainable mobility, while generating interest and stimulating enthusiasm about EVs in Sri Lanka among the general public. While creating an informed awareness about a mindful transformation from fossil fuel-based vehicles to EVs, the Centre will be a catalyst in prompting a sustainable shift in Sri Lanka’s transportation sector, which has traditionally been reliant on fossil fuels. To facilitate this transition, the Centre will also offer cutting-edge charging facilities for EVs, enhancing the accessibility and convenience of electric vehicle charging and contributing to the growth of the EV ecosystem in Sri Lanka. With over one million three-wheelers operating in Sri Lanka – all using fossil fuel – CDB and CodeGen will begin converting three wheelers into EVs.

Powered by solar energy, the Centre has two conversion bays and seven charging stations with two of these being fast charging stations solely for three wheelers, marking a first for Sri Lanka. The Centre will also have parking facilities for additional EVs. 

Commenting on the collaboration, Mahesh Nanayakkara pointed out that accelerating sustainable mobility solutions is a key vertical under the Net Zero Pillar within the CDB Sustainability Agenda. “As a responsible corporate steward we have committed to accelerate sustainable mobility solutions by promoting EVs and EV infrastructure, in addition to knowledge sharing. With over one million three wheelers on our roads, carbon emission, oil spillage, and noise pollution – all health hazards to drivers have a massive impact on climate change. The lasting positive impact this initiative can make, is unimaginable.”

Nanayakkara added that with the positives, daunting challenges emerge. “The cost of conversion, payable duties, cost of funds and customer conviction to convert vehicles adds to a long list. But we are confident and committed to travel this path with the help of like-minded people and organisations around the world, joining us to pursue a greener economy. Global warming and climate change is not a global crisis anymore, but a global emergency that needs urgent action.”

Enthusiastic about the partnership between CDB and CodeGen International, Dr. Harsha Subasinghe stated, “Together, we’re pioneering a sustainable Sri Lanka powered by EVs, while revolutionising the three-wheeler industry. Through knowledge sharing on EVs, conversions and charging solutions, we’re electrifying the future, one vehicle at a time. Together, we’re not just innovators; we’re trailblazers in building a greener, more eco-conscious Sri Lanka.”