Terra Motors Invests INR 50 Crore to Tamil Nadu EV Charging Ecosystem
Wednesday, 10 January 2024, 16:36 IST
Terra Motors, a developer of electric vehicle ecosystems, has collaborated with the Tamil Nadu state government to advance the electric vehicle (EV) infrastructure within the state. As part of this partnership, Terra Motors has committed to investing INR 50 crore to improve the EV charging infrastructure in the region. The company signed the MoU with the State Government headed by Chief Minister M.K. Stalin at the third edition of the Tamil Nadu Global Investors Meet in Chennai, attended by 9 partner nations and over 30 participating countries. The company said that the INR 50 crore investment is anticipated to create thousands of employment opportunities in the state, paving the way for substantial investments in the EV space.
Terra Motors has extended its footprint in India by launching Terra Charge's new office, dedicated to its electric vehicle (EV) charging infrastructure vertical, in six cities across the country – Pune, Hyderabad, Gurgaon, Bangalore, Kolkata, and Chennai. This collaboration with the Tamil Nadu government further solidifies the company's dedication to expanding its presence in the Indian market.
Utilizing its cutting-edge technology and extensive global market insights, the company intends to provide customized electric vehicle solutions that align with the unique requirements of the state's EV market. The investment aims to support India's eco-friendly transportation initiative, aiding in the realization of the goal to have 30% of newly registered private vehicles being electric, as stated by the company.
Akihiro Ueda, CEO of Terra Motors, said, “I am honoured to be a part of this landmark partnership and cannot wait to see what it brings for us. Our strategic investment of INR 50 crore in Tamil Nadu will allow us to enhance the existing EV charging infrastructure in the state, strengthening India’s EV charging network. I am confident our partnership will set new standards in the global EV industry and allow us to contribute significantly towards Tamil Nadu’s economic development".
Apurba Das Mohapatra, Business Head at Terra Motors Charging Solution, said, “Tamil Nadu’s pro-automotive ecosystem, robust infrastructure, government’s support, and access to a sizable market make the state an ideal market for us. This makes the partnership with the state quite lucrative for both the company and the state. Through our investment, we intend to cater to the evolving charging requirements of the state and capitalize on its growth".
Terra Motors has extended its footprint in India by launching Terra Charge's new office, dedicated to its electric vehicle (EV) charging infrastructure vertical, in six cities across the country – Pune, Hyderabad, Gurgaon, Bangalore, Kolkata, and Chennai. This collaboration with the Tamil Nadu government further solidifies the company's dedication to expanding its presence in the Indian market.
Utilizing its cutting-edge technology and extensive global market insights, the company intends to provide customized electric vehicle solutions that align with the unique requirements of the state's EV market. The investment aims to support India's eco-friendly transportation initiative, aiding in the realization of the goal to have 30% of newly registered private vehicles being electric, as stated by the company.
Akihiro Ueda, CEO of Terra Motors, said, “I am honoured to be a part of this landmark partnership and cannot wait to see what it brings for us. Our strategic investment of INR 50 crore in Tamil Nadu will allow us to enhance the existing EV charging infrastructure in the state, strengthening India’s EV charging network. I am confident our partnership will set new standards in the global EV industry and allow us to contribute significantly towards Tamil Nadu’s economic development".
Apurba Das Mohapatra, Business Head at Terra Motors Charging Solution, said, “Tamil Nadu’s pro-automotive ecosystem, robust infrastructure, government’s support, and access to a sizable market make the state an ideal market for us. This makes the partnership with the state quite lucrative for both the company and the state. Through our investment, we intend to cater to the evolving charging requirements of the state and capitalize on its growth".
