Japan’s Terra Motors Installs Electric Vehicle Chargers in India
MUMBAI — Terra Motors, a Tokyo-based startup, has started putting up electric vehicle charging stations in India. The company hopes to have 800 to 1,000 charge points there by the end of March and has set an annual income target of 100 million yen ($668,000) for the project.
The first stations were set up close to New Delhi in the northern state of Haryana. According to Terra, which established a special local company for the venture, it is the first Japanese company to build and manage EV chargers in India.
In 2022, Terra, a producer of electric tricycles, opened a charging station in Japan. The business has sold vehicles in India, and the charging stations there work with other brands of vehicles as well.
In India, Terra joins a market where Tata Power, the energy division of the regional giant Tata Group, already operates. Bridgestone’s regional subsidiary, which announced this month that it is installing the Tata unit’s chargers at its dealerships, has just joined forces with Tata Power as a reliable partner.
Indian automakers like Tata Motors are driving the market for electric vehicles in that country. Maruti Suzuki, the largest automaker in India, intends to finally enter the EV competition in fiscal 2024. The market’s growth is also boosting need for infrastructure for charging.
The Mitsui & Co. Global Strategic Studies Institute predicts that by 2030, 20% of vehicles on Indian roadways would be electric, up from just 1.1% in 2022. According to the think tank, the proportion of electric cars in two-wheelers will increase to 60% from just 4%, while the proportion in three-wheelers would rise to 90% from 52.8%.
About Terra Motors
Terra Motors is a Japanese company that designs and manufactures electric vehicles, especially two-wheelers and three-wheelers, for the Asian market. It was founded in 2010 by Toru Tokushige, who wanted to create an environment-friendly transportation system in Asia. Terra Motors has a subsidiary in India, which was established in 2014 and has become a leader in the electric three-wheeler segment. Terra Motors also offers charging and financing solutions for its customers, as well as IoT-enabled features for its vehicles