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Founded by Toru Tokushige in April 2010, Terra Motors is a Japanese EV manufacturing corporation. It designs and manufactures IoT-enabled high-quality Battery Operated 2 and 3 wheeler EVs, to replace fuel-run traditional vehicles. The company is working towards creating a clean and sustainable society with the use of EVs and was established with an idea to help in improving the quality of air by reducing emissions with the help of its electric vehicles.
Terra Motors - Company Highlights
- Startup Name-Terra Motors
- Founder-Toru Tokushige
- Industry-EV (Electric Vehicle)
Terra Motors - About
Terra Motors is a Japanese EV manufacturing corporation founded in April 2010, it ventured into the Indian markets in 2014, with the idea of creating transportation solutions using Japanese technology. The company is working towards creating a clean and sustainable society with the use of EVs and was established with an idea to help in improving the quality of air by reducing emissions with the help of its electric vehicles. The team is working towards creating an infrastructure for the future of the transportation industry in India with IoT-enabled smart vehicles, charging infrastructure, micro logistics, and much more.
Terra Motors - EV Industry Details
Approximately over 3 million EVs are plying on Indian roads today, and the Indian EV market is expected to grow at a CAGR of 44% during 2020-2027 with the annual sales hitting 63 lakh units by 2027. With the rising prices of fuel and fuel-run vehicles and various government policies to promote the use of EVs over fuel-run vehicles, this prediction is definitely going to surpass. An estimate by MarketWatch report, India mentioned that there will be over 20 lakh EVs on the roads by 2026.
How Terra Motors Started?
Transistor Radio from Sony, Cars from Honda, Japan has been known to bring world-class quality products in various sectors in the market and this is what inspired Toru Tokushige (Founder-Chairperson) to come up with the inception of terra motors. The inspiration was to create a world-class brand in the EV Sector and E-Mobility. They wanted to address the social problem of rising air pollution in the world with their products. Their vision is to create a smart and convenient society by providing a sustainable and clean transport ecosystem.
Terra Motors - Products
Terra Motors design and manufacture IoT - enabled high-quality Battery Operated 2 and 3 wheeler EVs, to replace fuel-run traditional vehicles, they are as robust and reliable as their fuel-run counterparts but provide better mileage and creates zero emissions.
Terra Motors - eBike & eRickshaw
With proper infrastructure, which is still under development, the company can achieve a lot with IoT enabled vehicles, it can help in setting up smart cities, better-charging infrastructure, traffic management, self-driving vehicles, better last-mile delivery, micro logistics, real-time vehicle status, and much more and this is what Terra Motors is planning for the future.
Founders and Team of Terra Motors
Akihiro Ueda joined Sharp Corporation, Japan, in 2008. Three years later he was in the United Arab Emirates, working to expand Sharp’s business in the Middle East and Africa. He joined Terra Motors Corporation in March 2015 as a sales manager and within no time was in charge of 4 Asian Countries, becoming CEO of Terra Motors Corporation in October 2019. He brings over 10 years of professional experience in Sales and Marketing and has a wealth of knowledge in the Asian Electric Vehicle industry, having served markets outside Japan; such as South Africa, India, Bangladesh, Vietnam, and Nepal.
Kosuke Nakagawa joined Terra Motors Corporation as an intern in 2013 following his dream of creating an innovative social system - which would lead to future global trends. Since 2015 he worked on building a huge sales network in the East India region, which in turn acted as a catalyst to achieve 10x sales in just two years.
Masanori Takahashi joined Terra Motor Corporation in 2014. Initially, he was in charge of field research and development of battery and charger for 3-wheelers; but on arriving in India developed and produced a super hit EV model which took the Indian Market by storm. He was appointed as a CTO in 2018, and also appointed as a Director in 2019.
Terra Motors - Challenges Faced
Electric Vehicles are still very new to the Indian markets and have very low adaptability due to their comparatively high initial cost and lack of charging infrastructure as we know.
For the cost aspect, the Indian government has done a commendable job when it comes to promoting the use of EVs in India, subsidizing taxes on EVs and other benefits to end-users has attracted a lot of buyers to switch to EV cars and 2 wheelers, But for the commercial transport industry, this isn’t enough. An end-user in the commercial market is a Rickshaw driver whose annual income is appx 3 LPA. And the cost of EV is almost half of his annual income, to address this Terra Motors has come up with Terra Finance that allows them to purchase an EV on easy monthly installments at attractively low interest rates.
The company is also in talks with various government and non-government tie-ups for improving the charging infrastructure in India.
Terra Motors - Investors
Terra Motors' investors include Nobuyuki Idei (Sony), Masaru Murai (Compaq), Koichiro Tsujino (Google), and Kenji Yamamoto (Apple).
Terra Motors - Tie-Ups
Terra Motors has tie-Ups with RevFin, Pooja Finlease, Indusland Bank, and Team Vedika for Terra Finance.
Terra Motors - Competitors
The top competitors of Terra Motors are Mahindra Electric, Tata, Hero Electric, Ampere Vehicles, PIAGGIO, and Okinawa.
Terra Motors - FAQs
What is Terra Motors?
Terra Motors is a Japanese EV manufacturing corporation. It designs and manufactures IoT-enabled high-quality Battery Operated 2 and 3 wheeler EVs, to replace fuel-run traditional vehicles.
Who founded Terra Motors?
Toru Tokushige founded Terra Motors in 2010.
When did Terra Motors venture into the Indian market?
Terra Motors ventured into the Indian Market in 2014.
Who is the CEO of Terra Motors?
Akihiro Ueda is the CEO of Terra Motors.