A NEW commercial electric vehicle (EV) leasing model for Fiji is being explored under a partnership between Queensland-based ZekiTek Pty Ltd and the Australian Government’s Market Development Facility (MDF).
ZekiTek is a manufacturer for renewable energy technology and electrical charging systems and its pilot project with MDF will help establish a business case for local companies to switch to a new EV commercial leasing model, eliminating the usually high upfront capital costs and enabling them to enjoy expected cost savings on fuel and maintenance.
“We are laying the foundation for EV charging infrastructure around Viti Levu and have imported an E-Van from Australia to conduct a six-month pilot trial that will showcase the commercial feasibility and environmental benefits of electric vehicles,” Zekitek founder and chief executive officer Rikesh Ram said.
“We are pleased to have several prominent transport and logistics companies participating in the pilot.”
To start the leasing model, ZekiTek has imported an E-Van and portable charging stations with MDF support.
The ZekiTek-MDF commercial EV trial will analyse participating companies’ fuel consumption savings, operational cost savings, carbon emission and noise pollution reduction.
MDF will support ZekiTek to use the data to inform a business feasibility case study for a new EV leasing model for commercial vehicle operators, including electric buses, trucks, and vans.
“We have partnered with ZekiTek to help businesses attract investors and introduce renewable energy and electrification to the Pacific,” Kelera Cavuilati, MDF Fiji Country Director said.
“Electric technologies have strong potential to reduce the cost of fossil fuel imports and decrease carbon emissions in our region and this commercial leasing model pilot also aligns with government’s plans to decarbonize Fiji’s transport sector.”
According to MDF, Pacific Island Countries and Territories fossil fuel imports cost the region approximately $US6 billion annually ($F13b) or between five and 15 per cent of the Gross Domestic Product of Pacific Island economies.
In Fiji alone, it said petroleum products make up to 20 per cent of total imports.
