Cardano-based Electric Vehicle Debut In Sri Lanka
As the blockchain and cryptocurrency industries continue to grow despite crashing markets, manufacturers of electric vehicles (EVs) are becoming more interested, and one of them has announced the debut of its EV project built on the Cardano (ADA) network, set to launch in Sri Lanka.
Indeed, the Sri Lanka deployment of eTukTuk, the first-ever automotive project built on Cardano, was announced on the second day of the World Economic Forum (WEF) in Davos, Switzerland.
Specifically, the project aims to address the infrastructure and cost issues that have previously prevented the scale launch of EVs by developing an innovative, sustainable, and “dynamic, multi-revenue model” that would incentivize the expansion of eTukTuk’s network of charging stations and EVs via Cardano.
The eTukTuk team will collaborate with influential industry partners and the local government in Sri Lanka, where there are currently 1.2 million traditional internal combustion engine (ICE) TukTuks on the roads, according to the report.
(With inputs from Shikha Singh)
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