Terra Motors India production and export hub, $10 million investment raised
Earlier in 2014, Japan’s Terra Motors Corporation introduced Kiwami, India’s first ever 1000cc electric superbike at a price of Rs 18 lakh. In February, at Delhi Auto Expo Terra Motors put its A4000i electric scooter, superbike and rickshaw (tuktuk) on display . Aimed at attracting motorcycle enthusiasts, and buyers in urban cities, eco-friendly variants Kiwami returns 10kw max motor capacity. Top speed is pegged at 160km/hour. Kiwami refers to ‘Ultimate’ in Japanese.
At the time of its India launch India, Mr. Toru Tokushige, Chief Executive Officer (CEO) Founder of Terra Motors said, “India is the second largest producer of two-wheelers in the world. Hence it is an important market in our strategic growth plan and we intend to invest Rs. 300 million in the Indian market next fiscal year. With this mission, Terra Motors is set to deliver electric vehicle (EV) of high quality and services in the tradition of what consumers in India come to appreciate and expect from the Japanese industry.”
In quicktime that intent is being realised as Terra Motors has this week announced a fund-raise of $10 million is now completed for business growth in India. Tokushige said to the market in India, “This capital will be invested also for development in India. Terra will export EV from India to the other South Asia, Middle East and African. The development and production in India will be hub for the global market. By these actions, they plan to achieve 100,000 unit sales in Asian market by 2015.”
Terra Motors will introduce executive e-scooters too. The Kiwami superbike requires 6 hours for full charge to go 200+ kilometers and leaves no carbon footprint. Terra Motors intends to be in India and Bangladesh, Indonesia, Taiwan and Thailand as part of its growth plan.