Terra Motors Corporation, Japan’s leading electric two- and three-wheeler manufacturer, plans to introduce an electric three-wheeler in the Indian market around October this year.
19 Aug 2014 | 25399 Views | By Autocar Pro News Desk
Terra Motors Corporation, Japan’s leading electric two- and three-wheeler manufacturer, plans to introduce an electric three-wheeler in the Indian market around October this year. It is believed the company will undertake contract manufacturing for the product with a Rajkot-based manufacturer.
Terra Motors is looking to price the electric three-wheeler ...
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Terra Motors Corporation, Japan’s leading electric two- and three-wheeler manufacturer, plans to introduce an electric three-wheeler in the Indian market around October this year. It is believed the company will undertake contract manufacturing for the product with a Rajkot-based manufacturer.
Terra Motors is looking to price the electric three-wheeler very competitively against conventional three-wheelers and is banking on offering low operating costs. The existing electric three-wheeler market in India is pegged at 100,000 units.
In an earlier interview with Autocar Professional, the company’s founder and CEO Toru Tokushige had said that Terra Motors will invest Rs 30 crore in India during 2014-15. Terra Motors has showcased its products for the first time in India at the Auto Expo 2014 in Greater Noida, including the T4 electric three-wheeler.
The T4 is powered by a 3.5Kw motor which draws charge from 48V, 120Ah battery. The company offers a option of lead acid as well as lithium ion battery options in the T4. The estimated range, according to company data, is 80km with a total capacity to carry 3-5 passengers excluding the driver.
Tokushige feels that even though electric vehicles have gained acceptance in Europe and America as a means of mobility, they have very strong prospects in Asia. “More than 30 million units of electric two-wheelers were sold in China in 2013, and hundreds of thousands of electric three-wheelers have already been sold in India and in Bangladesh because of the high price of petrol. Therefore, we need to focus on Asian markets,” Tokushige had said a few months ago. In addition to India, Terra Motors will also enter Bangladesh this year.
Tokyo-based Terra Motors was founded in 2010. Its investors include former president of Sony Corporation, Nobuyuki Idei, Koichiro Tsujino, former president of Google Japan and Kenji Yamamoto, former vice-president of sales at Apple Inc, USA.
Photograph: Terra Motors’ CEO Toru Tokushige with the T4 electric three-wheeler.