Alliance Finance and LeMS partners to make Electric Three-Wheeler Conversions more accessible.

October 2026, Colombo

Alliance Finance Company PLC (AFC) has entered a Memorandum of Understanding (MoU) with Lanka E-Mobility Solutions (Pvt) Ltd (LeMS) to make the conversion of petrol-powered three-wheelers to electric more accessible to owners across Sri Lanka.

Through this partnership, AFC will offer preferential leasing facilities to customers seeking to convert their existing three-wheelers to electric, while LeMS will undertake the conversions and provide batteries on a rental basis. By combining financing solutions with an alternative to purchasing a battery outright, the initiative aims to reduce the financial barriers to adopting electric mobility.

For most three-wheeler owners in Sri Lanka, their vehicle is more than a mode of transport; it is their primary source of income. With daily operating expenses, particularly fuel and maintenance, putting pressure on their earnings, the transition to electric mobility presents an opportunity to minimize costs while continuing to earn a livelihood.

However, the initial investment required to convert a conventional three-wheeler to electric, together with the cost of a battery, can be a significant obstacle for many owners.

The AFC-LeMS partnership seeks to address these challenges through a combination of preferential leasing and a battery rental model, making the transition more financially accessible.

A Practical Approach to Electric Conversion

LeMS converts existing petrol-powered three-wheelers to electric by replacing the conventional engine with an electric drivetrain. Under its battery rental model, customers pay the conversion cost upfront, while LeMS provides the battery on a rental basis over an agreed period, typically three to five years, subject to the applicable terms and warranty.

This approach removes the need for customers to purchase the battery outright, helping spread the associated cost over time. AFC's preferential leasing facilities will further support customers in financing the conversion, creating a more accessible pathway to electric mobility.

According to LeMS estimates, owners could save up to LKR 40,000 per month through reduced fuel and maintenance expenses, depending on their daily mileage, operating conditions and applicable conversion and battery rental costs. These potential savings could help ease operating expenses and improve the financial sustainability of their livelihoods.