Terra Motors expands e-vehicle range; launches electric 3-wheeler for passenger segment
Electric vehicle
maker
Terra Motors
on Tuesday expanded its electric vehicle range in the country as it looks to strengthen its presence in the country. The Japanese firm, which introduced the
electric three-wheeler
KYORO+ to cater to the passenger segment, already has a sizable presence in electric rickshaws (L3) in India having sold over 1.5 lakh units so far.
With the new model, the company aims to bolster its position in the electric three-wheeler segment (L5).
Terra Motors India Managing Director Go Suzuki said the company aims to garner around 5-8 per cent market share in the segment which sees sales of around 1.5-1.6 lakh units per annum.
EV calculator
How much will I save if I choose an electric vehicle?
SELECT vehicle type
Calculate
The company also has ambitious plans to scale up the sales network and production capacity in the country, he noted.
"We aim to establish 100 dealerships across the country and scale up production capacity of the
electric auto-rickshaws
to around 5,000 units per month," Suzuki said.
Live Events
The company currently has a manufacturing capacity of around 5,000-10,000 units (L5) per year at its Manesar-based plant.
It also produces around 3,000 units of electric rickshaws at the facility.
"At Terra, we've been shaping the future of
clean mobility
with our
e-rickshaws
. Now, with the launch of our Electric Auto (L5), we're redefining transport on India's roads," Suzuki said.
Terra Motors Founder & CEO Toru Tokushige said India represents the company's strongest commitment globally.
"At Terra, we aim to lead the market through continuous innovation, with a clear goal -- to become No.1 in shaping the future of electric mobility," he added.
Terra Motors also operates Terra Charge, a dedicated
EV charging infrastructure
division, in the country.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
32 minutes ago
- Time of India
Visa-free entry boosts travel to Philippines; online searches from India jump 28%; surge led by couples, first-time travelers
AI image NEW DELHI: Travel searches for the Philippines have surged among Indian tourists after the country announced visa-free entry for Indian passport holders, allowing stays of up to 14 days. According to visa processing platform Atlys, searches from India for travel to the Philippines jumped 28% after the update. Before the announcement, the country ranked eighth among the most searched Southeast Asian destinations by Indian travellers on Atlys. It has now jumped to third place, just behind Thailand and Indonesia. According to travel platform Atlys, searches for the Philippines jumped 28% soon after the announcement, and a sustained 20–30% increase in demand is expected over the coming months. "After the announcement, it swiftly climbed to third place, trailing only Thailand and Indonesia. The sudden repositioning underscores the significant impact visa accessibility can have on destination interest, particularly within India's fast-growing outbound travel market," Atlys said in a statement on Tuesday. Data from Atlys shows that the surge is mainly driven by couples and honeymooners, who account for 42% of all recent Philippines-related searches. Solo travellers make up 27%, primarily from metro cities like Mumbai, Delhi, and Bengaluru. Families represent another 21%, with many planning multi-stop itineraries that combine beach destinations like Palawan and Cebu with the city attractions of Manila, reported PTI. The policy change has also opened doors for first-time international travellers, who are increasingly seeing the Philippines as a viable and attractive destination without the hassle of visa applications. The Philippines officially joined a growing list of countries offering visa-free or visa-on-arrival entry to Indian tourists on Sunday. Others in this group include Thailand, Malaysia, Sri Lanka (free e-visa), Seychelles, Indonesia (visa on arrival), Maldives, Nepal, and Hong Kong (with online pre-clearance), according to Anil Kalsi, Vice President of the Travel Agents Federation of India. "Indian nationals may enter the Philippines without a visa for a non-extendible and non-convertible period of 14 days for tourism purposes, upon presenting a passport valid for at least six months beyond the contemplated stay, confirmed hotel accommodation/ booking, proof of financial capacity, and return or onward ticket to the next country of destination," the website of the Philippines embassy in New Delhi said. "Indian nationals holding valid and current American, Japanese, Australian, Canadian, Schengen, Singapore or United Kingdom (AJACSSUK) visas or residence permits may enter the Philippines without a visa for a non-extendible period of 30 days for tourism, upon presenting a passport valid for at least six months beyond the contemplated stay, and return or onward ticket to the next country of destination," it added. Adding to the momentum, Air India will launch direct flights between Delhi and Manila starting October 1, 2025, improving travel access. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
33 minutes ago
- Mint
Asset management stocks rebound as AMFI data shows record AUM; Nomura bullish on HDFC AMC, NAM
Shares of asset management companies (AMCs) staged a modest recovery on June 11, 2025, after facing some profit booking in the previous session. The rebound came even as equity mutual fund inflows fell to a 12-month low in May. The data released by the Association of Mutual Funds in India (AMFI) showed a mixed picture—while equity inflows slipped sharply, overall assets under management (AUM) hit an all-time high. The sector also received a boost from Nomura's reaffirmed bullish stance on leading players HDFC AMC and Nippon Life India Asset Management (NAM India), citing strong growth in AUM and profitability. HDFC AMC rose nearly a percent after dropping 2 percent in the prior session. Similarly, UTI AMC gained 0.8 percent, recovering from a 1.4 percent decline on June 10. However, Aditya Birla Sun Life AMC (ABSL AMC) remained under slight pressure, trading flat to marginally lower. Despite short-term volatility, AMC stocks have shown strong momentum in recent weeks—UTI AMC and ABSL AMC have surged up to 20 percent in the last one month, while HDFC AMC has gained 15 percent over the same period. The initial decline in AMC stocks came after AMFI reported a steep 22 percent drop in equity mutual fund inflows for May, totaling ₹ 19,013 crore, the lowest in a year. However, analysts view this drop as a moment of consolidation rather than cause for concern. Anoop Vijaykumar, Head of Equity at Capitalmind MF, said, 'Even with a 22 percent month-on-month dip, ₹ 19,000-plus crore of fresh equity money marks the 51st straight month of positive flows—a remarkable show of investor discipline since March 2021.' One of the biggest positives from the AMFI data was the continued strength in Systematic Investment Plans (SIPs). Monthly SIP contributions rose marginally to hit a new high of ₹ 26,688 crore, marking a 28 percent year-on-year increase. The rising SIP numbers suggest that retail investors continue to favour disciplined, long-term investing strategies. Moreover, the mutual fund industry's total AUM climbed to a record ₹ 72.20 lakh crore in May, up from ₹ 69.99 lakh crore in April. This milestone is seen as an indicator of the deepening of retail participation in capital markets and the ongoing shift of household savings toward financial assets. Overall, the industry registered net inflows of ₹ 29,108 crore during the month. Adding to the positive sentiment, Japanese brokerage Nomura reiterated its bullish outlook on HDFC AMC and NAM India in a report released on June 10. The brokerage maintained 'Buy' ratings on both stocks, driven by expectations of continued growth in AUM and operating profits. HDFC AMC and NAM have rallied 13 percent and 16 percent respectively in the past month, outperforming the broader market even as overall equity inflows slowed. Nomura analysts Ankit Bihani and Parth Desai highlighted the resilience of SIP flows and improving operating leverage as key tailwinds for these companies. The brokerage has set a price target of ₹ 4,272 for HDFC AMC, supported by its dominance in the high-margin equity AUM segment. For NAM India, the target price stands at ₹ 624, driven by cost efficiency and scalable operations. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
34 minutes ago
- Time of India
Japan's Mizuho is said to be on cusp of buying Indian investment bank Avendus
Mizuho Financial Group Inc. is on the verge of buying a majority stake in investment bank Avendus Capital Pvt, people familiar with the matter said, in what would be the latest acquisition by a Japanese bank in India. Executives are hammering out details of a transaction that could be finalized as soon as this month and value Avendus at about $800 million, including debt, the people said, asking not to be identified because the deliberations are private. Mizuho, Japan's third-largest lender, plans to acquire KKR & Co.'s 63% stake in Avendus and may also buy shares from minority investors, bringing its total holding to about 70%, the people added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo Representatives for Mizuho and KKR declined to comment. Avendus didn't immediately respond to a request for comment. Bloomberg News reported in February that Mizuho was working on a deal to buy a majority stake in Avendus. In another example of a Japanese bank turning to India, Sumitomo Mitsui Financial Group Inc.'s banking unit last month agreed to buy a 20% stake in Yes Bank Ltd. for about 135 billion rupees ($1.6 billion). Live Events Mizuho is seeking to replicate its US playbook by leaning on the experience and connections of a local partner to grow its dealmaking business. In 2023, it bought US investment bank Greenhill & Co. to boost its presence in advisory for mergers and acquisitions in the Americas. An Avendus acquisition would bolster Miuzho's presence in India, which has become a hotspot for initial public offerings and M&A. Chief Executive Officer Masahiro Kihara has said the lender isn't interested in traditional retail banking assets in Asia.
