Terra Motors Charging Solutions, an EV ecosystem developer, has announced Terra Charge Blanket Solution, a comprehensive EV package. The all-encompassing package aims to impact the US$ 2 billion Indian Electric Vehicle market with a range of features, including L5 Loader vehicles, designed to cater to the needs of the last-mile delivery and the logistics arena. It will also provide personalised financing options for EV purchases, build charging infrastructure, and provide centralised management software with dashboards and mobile app access for real-time insights.
The company is accepting pre-orders for the L5 Loader, enabling early adopters to access advanced technology. This move coincides with Terra Motors’ latest Series C funding of US$ 28 million, which fuelled its expansion into cities like Hyderabad, Pune, Bangalore, Kolkata, Gurgaon, and Chennai.
While the electric vehicle market is projected to mark 10 million annual sales by 2030, the government is working actively to ensure 100% domestic EV production under its ‘Make in India’ initiative to lower reliance on crude oil imports and boost the economy. Terra Motors aims to tap into this drive and empower fleet owners and last-mile delivery network partners to switch to EVs with a more localised solution, the company shared.
Apurba Das Mohapatra, Business Head at Terra Motors Charging Solution, provided insights into the Terra Charge Solution, saying, “Starting with Terra Motors, renowned for 3-wheeler manufacturing, we present the L5 Loader vehicle tailored for logistics and last-mile delivery. Our financing option extends a hassle-free process, providing loans at highly attractive interest rates with minimal paperwork. Terra Charge then steps in to develop the necessary charging infrastructure, incorporating designated hubs and route charging. To complete the package, our centralised management software ensures seamless operations, offering real-time tracking and charging route optimisation. With Terra Charge's Blanket Solution, businesses can now redirect their focus on growth while we expertly handle the integral facets of their operations.”
With this package, the Terra Charge vertical takes a strategic stride towards its ambitious plan to install nearly 1000 charge points by this coming March and add to its anticipated annual revenue of $668,000 in the Financial Year 2024.