Wednesday Apr 29, 2026
Wednesday Apr 29, 2026
Wednesday, 29 April 2026 00:00 - - {{hitsCtrl.values.hits}}
The teams of Elektrateq and Mobility as a Service at the signing of the agreement
Elektrateq Ltd. and Mobility as a Service Ltd., operating under the brand Elexi, announced the signing of two landmark commercial agreements, marking a significant milestone in their collaboration to accelerate the adoption of electric mobility in Sri Lanka.
The agreements — an ETX Purchase Agreement and a Vehicle Rental Agreement , together establish a comprehensive framework for Elexi to procure, deploy, and operate Elektrateq’s ETX electric three-wheelers at scale across the country.
Under the ETX Purchase Agreement, effective from 21 April 2026, Elexi gains access to multiple flexible purchase options, including volume-incentive models, batch purchasing with short-term financing, and Battery-as-a-Service (BaaS) configurations. These arrangements are designed to support both rapid fleet growth and long-term operational sustainability.
Elektrateq Ltd. Director Kusal Subasinghe said: “This agreement is a testament to our commitment to making clean electric mobility accessible and commercially viable in Sri Lanka. Elexi is the ideal partner to bring the ETX to more riders across the country, and we look forward to growing this relationship together.”
Mobility as a Service Ltd. Director Heminda Jayaweera said: “The ETX platform gives Elexi the reliable, scalable, and cost-effective fleet foundation we need to deliver on our mobility-as-a-service vision. These agreements unlock the full value of our partnership with Elektrateq and set the stage for significant fleet expansion.”
Elexi is backed by Venture Advisors, which comprises a distinguished panel of industry leaders including First Capital Holdings PLC Chairman Rajendra Theagarajah,PickMe former Chief Technology Officer Mithila Somasiri, and Cornell University Associate Professor Samitha Samaranayake. Together, this advisory panel brings a powerful blend of expertise across finance, technology, and academia, strengthening Elexi’s strategic direction and growth potential.
