Richard Pieris Arpico Finance CEO explains benefits of driving green
Thursday, 24 July 2014 00:01
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Richard Pieris Arpico Finance Ltd (RPAF) revealed its Eco-Drive project which aims to introduce electric cars to the Sri Lankan market as well as set up a vast network of charge centres.
RPAF recently introduced the Nissan Leaf electric car to the local market while it announced plans to expand the services available to those interested in investing in eco-friendly vehicles.
Richard Pieris Arpico Finance CEO K.M.M. Jabir addressing the media
Pic by Daminda Harsha Perera
Addressing the media on Tuesday (22 July), RPAF CEO K.M.M. Jabir stated that the whole world was moving towards green technology and RPAF was also committed to this concept in a bid to go in a different direction to other finance companies.
“People are now more concerned about the environment. This is why we are focusing on green projects like electric vehicles and solarisation,” he explained.
Jabir said that according to the data provided by the Registrar of Motor Vehicles, around 100 electric cars had been registered in the period leading up to 2013 while a further 50 had been registered from the ensuing period up to last month.
He also unveiled RPAF’s plans to set up a network of Rapid Charge Centres around the country which will serve as charging points for these vehicles. RPAF is currently in negotiations with the Ceylon Electricity Board as well as tax authorities in the hopes of introducing these charge centres within a few months.
Initial plans will include a Rapid Charge Centre at each of the 39 Arpico centres around the island while Jabir revealed that they were in talks with several parties to open up charge centres at other locations including the Katunayake and Mattala airports, the Colombo Hilton Hotel as well as fuel stations.
RPAF are in negotiations with several Asian firms on importing charging units which cost close to Rs. 4 million.
The Nissan Leaf can travel around 150km on a full charge while it would take roughly four hours to charge at home. The Rapid Charge Centres, which will incorporate solar energy to charge the vehicles, will be able to complete a charge in 20 minutes. The vehicle consumes around 15 units of electricity for a complete charge. One of the vehicle’s clever features includes the capacity to power the household in case of a power failure.
Other electric vehicle brands in the market, such as Tesla, are known to be high-end brands that can travel around 450km on a full charge. RPAF announced that it intends to bring down other brands of electric cars to Sri Lanka as well.
Early consumer feedback on these vehicles has been largely positive according to RPAF. Consumers who charge their vehicles at home have reported a Rs. 10,000 increase in their monthly electricity bills. RPAF stated that with current fuel and vehicle maintenance costs this monthly increase was negligible.
“There is no maintenance cost at all with these vehicles. It doesn’t have an engine so you don’t need to worry about spare parts or servicing the vehicle. It runs on a battery which comes with an eight-year warranty as well,” Jabir explained.
A replacement battery would cost in the region of Rs. 50,000-60,000.
The electric vehicle would generally be smoother and quieter as well as being emissions free. RPAF stated that green technology of this nature would benefit the country greatly in terms of reducing vehicle exhaust emissions and fuel dependency.
The Eco Drive project will be launched in the Western, Southern and Sabaragamuwa Provinces while there are already plans to branch out to other areas of the country as well.
