Japanese electric vehicle maker Terra Motors has proposed to invest ₹50 crore to develop the charging infrastructure in Tamil Nadu.
The company signed a memorandum of understanding with the State Government at the third edition of the Tamil Nadu Global Investors Meet.
Akihiro Ueda, CEO & Managing Director of Terra Motors told CNBC-TV18 that Tamil Nadu's '
battery-as-a-service' initiative aligns perfectly with the company's mission.
Terra Motors has been present in India since 2014 and its revenue has tripled in the last ten years, according to Ueda. It sells electric three wheelers, finances buyers, and offers charging solutions.
The company is looking to expand its EV charging network in cities like Hyderabad, Bangalore, Pune, and Gurgaon, among others. “We will raise funds to support this strategic investment," he added.
(Edited by : Sriram Iyer)
First Published: Jan 9, 2024 2:01 PM IST
