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MUMBAI, 18 October 2023: Terra Motors, a Tokyo-based startup specializing in electric three-wheeled vehicles, is paving the way for India’s electric mobility revolution by deploying EV charging stations. With plans to establish 800-1,000 charging points by March and targeting an annual revenue of USD 668,000 (¥100m), the company aims to fuel the electric vehicle landscape in India. In this article, we’ll delve into Terra Motors’ efforts to drive e-mobility, beginning near New Delhi.
Terra Motors’ EV Charging Initiative in India
Terra Motors, a renowned manufacturer of electric three-wheeled vehicles, commenced its venture into the electric vehicle charging sector in Japan in 2022. As part of its expansion strategy, the company has introduced EV charging stations in India. These stations are strategically located in the northern state of Haryana, near New Delhi. It has gone a step further by establishing a dedicated local entity to spearhead its charging station business in India, marking a significant milestone.
Expanding E-Mobility Horizons
Terra Motors’ entry into the Indian electric vehicle market aligns with the nation’s growing demand for sustainable transportation solutions. The Indian EV market has been steadily gaining momentum, with key players like Tata Motors leading the charge. Furthermore, Maruti Suzuki, India’s top passenger car manufacturer, plans to join the EV race in fiscal 2024. As the electric vehicle landscape in India expands, the demand for charging infrastructure continues to rise, making Terra Motors’ initiatives even more pivotal.
India’s Electric Vehicle Roadmap
While electric vehicles represented only 1.1% of the automobiles on Indian roads in 2022, the Mitsui & Co. Global Strategic Studies Institute projects a remarkable transformation. By 2030, the institute anticipates that electric vehicles will comprise 20% of all automobiles in India. The shift toward electric mobility is expected to be even more prominent among two-wheelers, with a projected increase from 4% to 60%. Three-wheeled vehicles are also forecasted to experience a substantial rise, with the electric makeup soaring from 52.8% to 90%.
Terra Motors’ Contribution to Indian E-Mobility
Terra Motors’ strategic move into the Indian electric vehicle market represents a significant step forward for e-mobility in the region. With the establishment of hundreds of charging stations by March and a firm commitment to increasing revenue, Terra Motors is playing a pivotal role in shaping the future of electric mobility in India. As the country strives to significantly boost the adoption of electric vehicles across different categories, Terra Motors’ charging infrastructure initiative stands as a beacon of progress, contributing to a cleaner and more sustainable future for Indian transportation.
In an era where sustainability is at the forefront of global priorities, Terra Motors is demonstrating its commitment to revolutionizing India’s electric mobility landscape, one charging station at a time.
