The high cost of e-vehicles and the absence of a reliable charging infrastructure are two of the problems eTukTuk hopes to solve by developing a unique and diverse revenue stream. In order to increase the number of eTukTuk-owned charging stations and e-vehicles on the road, the Cardano blockchain will be used to facilitate a peer-to-peer economy.
This is planned to help nations without e-vehicle infrastructure make the transition away from fossil fuels while solving global issues including air pollution, CO2-related health concerns, and economic injustice.
And tuk-tuks, which stand for low-cost transportation in developing Asian and African countries, will be the catalyst for this change. However, they contribute significantly to global carbon emissions and emit more CO2 than vehicles.
Together with the government of Sri Lanka and other significant industry partners, eTukTuk is starting a movement to replace the country’s current fleet of 1.2 million tuk-tuks powered by internal combustion engines with electric vehicles.
According to a statement released by the project’s strategic consultant James Bowater, eTukTuk is collaborating closely with its Sri Lankan partners in order to expand operations. “We are establishing an innovative, cheap, and accessible platform for drivers who are today prohibited from making the conversion to electric cars,” stated CEO Ryan Fishoff.