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Terra Motors launches electric auto to boost presence in L5-EV 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.
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.
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.
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The Hindu
3 hours ago
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