Terra Motors India, a prominent player in the EV sector, is set to expand its electric vehicle charging infrastructure arm, Terra Charge, with the inauguration of new offices in Hyderabad, Bangalore, Pune, Gurgaon, Kolkata, and Chennai.
The company has strategically appointed six professionals in each city and plans to hire skilled personnel in key roles to achieve a workforce of over 250 by 2024. This expansion follows Terra Motors’ successful Series C funding round, raising USD 28 million.
Akihiro Ueda, CEO of Terra Motors India, expressed enthusiasm about the new offices and their potential contributions to the company’s growth.
With a commitment to supporting the government’s target of a 30% share of EVs in automobile sales by 2030, Terra Motors aims to provide high-value EV charging services and explore diverse business opportunities tailored to each market.
While specific financial figures for the previous fiscal year were not disclosed, the company anticipates an annual revenue of USD 6,68,000 for FY24.
Terra Motors has secured substantial funding to support its planned expansion, positioning itself for robust growth. The strategic office locations will facilitate Terra Charge’s mission to offer efficient and reliable charging services across India.
The company is on track to achieve its goal of installing 800-1000 charge points by March, having already established EV charging hubs in Haryana and with plans for further expansion in West Bengal and Maharashtra.
A recent collaboration with SNM Cabs, an all-electric-fleet ride-hailing service, involves developing a charging hub near Pune airport, with plans for four additional EV hubs in prime areas by March 2024.
Terra Motors’ new offices aim to strengthen its presence in the Indian EV ecosystem, tap into emerging business opportunities, and meet the growing demand for advanced electric vehicle charging infrastructure.
The company is dedicated to delivering high-quality charging services to commercial EV users and actively contributing to India’s EV revolution through continuous expansion and product innovation.
