Tokyo Motor Show 2013
Photo courtesy of Terra Motors

Terra Motors Corporation, Japan’s top electric two & three wheeler developer, manufacturer, and retailer announced the completion of a $10 million round of financing for the expansion of its business into the Asian electric vehicle (EV) market. This round of financing was led by major Japanese venture capital firm Mizuho Capital Co., Ltd.

Toru Tokushige, CEO and founder of Terra Motors said, “Through this funding, we hope to obtain the cooperation of Asian business groups.” He also said, “Generally speaking, electric vehicles tend to be thought of as a means of mobility in Europe and in America. But with regards to electric two & three wheelers, their main market is Asia. More than 30 million units of electric two wheelers were sold in China in 2013, and hundreds of thousands of electric three wheelers have already been sold in India and in Bangladesh because of the high price of gasoline. Therefore, we need to focus on Asian markets.”

This fund will be utilized to expand its business in Asian countries, and to enhance production in Vietnam and in the Philippines.

Terra Motors has its headquarters in Tokyo, Japan, and it has overseas affiliated firms in Vietnam and in the Philippines. This year, the company plans to expand to India, Bangladesh, and in few years, to Indonesia, Taiwan, Thailand and other Asian countries. It will enhance the production of “A4000i,” the world’s first electric scooter with smartphone connection capability in Vietnam, and electric three wheelers in the Philippines. Through these endeavors, it plans to achieve 100,000 unit sales in Asian markets by 2015.

Mr. Tokushige added, “In the electric automotive industry, Tesla Motors has a big presence. But if you look at the electric two & three wheeler industry, no company has a similar presence. So our short-term goal is to take the lead in the Asian market just as Tesla has positioned itself as a leader in the electric automotive industry. In addition, our long-term goal is to create a company with rapid growth, beyond the growth of Samsung and Apple.”

Terra Motors’ New Investors

Fenox Venture Capital is a venture capital firm based in Silicon Valley, California. For more information, please visit http://fenoxvc.com/

Mizuho Capital Co., Ltd is a venture capital firm based in Chiyoda-ku, Tokyo. For more information, please visit http://www.mizuho-vc.co.jp/english_info/index.html

Shinsei Bank, Limited is a Japanese bank based in Chuo-ku, Tokyo. For more information, please visit http://www.shinseibank.com/english/

SMBC Venture Capital Co., Ltd. is a venture capital firm based in Chuo-ku, Tokyo. For more information, please visit http://www.smbc-vc.co.jp/

AIZAWA SECURITIES CO., LTD. is a financial instruments firm in Chuo-ku, Tokyo. For more information, please visit https://www.aizawa.co.jp/company/english/

Product Information

A4000i, the world’s first electric scooter with smartphone connection capability will be released worldwide this year. We plan to present the A4000i at the International Motorcycle Exhibition in Milan in 2014, and we hope to obtain the cooperation of distributors all over the world.

Electric Three Wheeler

We participated in an electric three wheeler bidding project by the Asian Development Bank (ADB) and the Philippine government which will introduce 100,000 electric three wheelers in the Philippines by 2017.

About Terra Motors Corporation

Terra Motors Corporation is an electric two & three wheeler developer, manufacturer and retailer in Japan. Its mission is to devise leading innovations in electric vehicles (EV) in order to create a clean and sustainable society.

The company was established in 2010 and occupies the number one market share in Japan. It is headquartered in Shibuya, Tokyo, and it has overseas affiliate firms in Vietnam and in the Philippines.

Investors include Mr. Nobuyuki Idei (former President of Sony Corporation), Mr. Koichiro Tsujino (former President of Google Japan) and Mr. Kenji Yamamoto (former President of Apple Japan and former Vice-President of Sales at Apple Inc. in the USA).

For more information, please visit http://www.terra-motors.com/

This article is a repost, credit: Terra Motors.

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