Terra Motors has taken a step closer to enter the Indian market. The Japanese automaker, famous for making electric two and three-wheelers, has recently raised 10 million US dollars to finance its future developments in Asian markets. Interestingly, a good share of this fund will be invested in our country as the company is contemplating setting up an assembly plant in India and will be utilising it to export to developing countries.
"This capital will be invested also for development in India. Terra will export EVs from India to the other South Asia, Middle East and African markets. The development and production in India will be hub for the global market. By these actions, we plan to achieve 100,000 unit sales in Asian market by 2015,” said Toru Tokushige, CEO, Terra Motors.
Earlier this year, Terra Motors made its presence with launch of its electric superbike, the Kiwami. Powered by a 10kw electric motor, the Kiwami is an all hand-made model that requires six hours charging to cover upto 200 kilometers. Being an electric bike, the acceleration is very quick and the Kiwami is capable of touching 160kmph top speed. At 18 lakh though, it may find few takers in the Indian market. However, local operations should see the cost coming down and the company is preparing to set up a sales and service network for its e-executive scooters range around September in India.