Sri Lanka has a history of producing successful and renowned businessmen. While the current generation has seen fewer individuals attaining such prominence, Nalin Welgama, a member of the renowned Welgama family and the creator of Ideal Motors, stands out as one of the few who have made a significant impact in the country’s business sector today.
Chairman, Ideal Motors,
Nalin Welgama
Taking into consideration the power and energy crisis, as well as the country’s ambition to usher in a sustainable energy revolution, Ideal Motors has now planned to introduce an electric vehicle tailored to the specific needs and conditions of the country.
Speaking of the history of Ideal Motors, Welgama said in 2018 the company was the first to begin assembling internationally acclaimed Mahindra vehicles in Sri Lanka. According to him, Mahindra brought in 35 percent of the entire dollar investment for the project through the Board of Investment while Ideal Motors invested the remaining 65 percent. “This was a landmark moment for us,” he said.
Welgama said that Ideal Motors is currently focused on manufacturing the spare parts for Mahindra and aspires to establish itself as an Original Equipment Manufacturer (OEM) for Mahindra.
“It will certify our quality, which will open a large market for us,” he said. He said that Ideal is currently in discussions with India’s Ashok Leyland and Mahindra to manufacture seats for vehicles produced by them. While Ideal’s Mahindra assembly plant which assembles Mahinda SUVs from CKD (Completely Knocked Down) kits along with local value addition was initially supervised by Indian engineers, today it relies solely on the expertise of local engineers.
Seeking to expand its product range, the company has now planned to assemble “Moksha,” (Emancipation) an electric vehicle intended solely for the Sri Lankan market. “Sri Lanka has a rich history of advanced technical knowledge. We must now work towards reigniting these capabilities,” he said.
According to Welgama, while electric vehicles currently constitute only 35 percent of the global vehicle market, it is anticipated that this figure will increase to 70 percent by 2030. “We must strategise with this projection in mind,” he said. Electric vehicles have steadily gained ground in Sri Lanka as well.
Knowledge
Four-wheel drive vehicles made for the Security Forces
According to Welgama, while certain e-vehicles imported to Sri Lanka faced battery replacement issues, Ideal Motors was able to assemble the batteries needed for the cars imported by them.
He said that the knowledge acquired during the process was instrumental in the creation of “Moksha.”
“We imported the engine from China as we do not have the technology to manufacture it locally. But 70 percent of the value addition is carried out in Sri Lanka including the manufacturing of the battery,” he said.
“The battery management system is the most important component in an e-vehicle. It must be managed according to the temperature of the environment, which is somewhat high in this part of the world. Therefore, it must be tailor-made to suit Sri Lankan conditions,” he said.
A technician at work
However, acknowledging the soaring electricity tariffs, Welgama said the first step should be to dismantle the fossil energy mafia in Sri Lanka and tap into sustainable energy sources with Government support. He believes that the Government could establish a solar panel project in which panels would be provided to low-income families. The electricity generated from these panels could be integrated into the national grid, allowing the families to benefit financially.
GoldMedal
He pointed out that Ideal Motors had recently been acknowledged for its contributions to the establishment of a Green Economy by the Board of Investment (BOI), resulting in the business being honoured with the Gold Medal. “We also hope to venture into the solar power business and have commenced the approval process,” he said.
The Ideal Motors factory
Welgama said that Sri Lanka has failed to nurture an environment conducive to e-vehicles in Sri Lanka despite it being a popular topic of discussion in the political arena. “The anticipated social and economic benefits of electric vehicles cannot be fully realised without a Government-sponsored national program to guarantee that every household with an electric vehicle has access to a renewable energy unit,” he maintained.
Moksha will be introduced to Sri Lanka on January 24, 2024 at a cost of less than Rs. 4 million. Ideal Motors is also in the process of manufacturing four-wheel vehicles for the military and the police, which will enhance their capabilities in combating illicit and criminal activities, such as drug smuggling.
Welgama maintains a positive outlook for Sri Lanka but emphasises that the country needs a shift in its mindset. He expressed his satisfaction that such a change in thinking seems to be taking place now.
He said that the citizens must endeavour to change themselves and come together to usher in the social changes that will promote genuine national interests, free from any political agendas and influence.
Pix By Thilak Perera
