Terra Motors eyes global expansion after success in India’s tier-1 cities

Apurba Das Mohapatra, Business Head of Terra Motors Charging Solution, envisions the company becoming the world's number one EV mobility platform. They are focused on building a sustainable and clean transportation ecosystem that will benefit the environment and the economy. In this interview with Bizz Buzz, Mohapatra discusses the company's plans to extend more localized solutions to businesses such as fleet owners and last-mile delivery partners, as well as their anticipated benefits and revenues from the Terra Charge Blanket Solution

How does the company envision its role in shaping the future of the electric vehicle ecosystem, both in India and potentially beyond?

Terra Motors envisions becoming the world’s number one EV mobility platform, and we are confident that with our continuous efforts, we will create a smart and convenient society. We are focused on building a sustainable and clean transportation ecosystem that will benefit not just the environment but also the economy.

In India, we have already expanded into six tier-1 cities, such as Pune, Bangalore, Hyderabad, Kolkata, Gurgaon, and Chennai, to support the growth of EVs across all regions. We are exploring more business opportunities and collaborations to improve our EV ecosystem offerings, strengthening our presence in India. Through our advanced products and tailored services, we aim to expand in other countries and tap into our potential to become a global leader in the electric vehicle landscape.

What inspired the creation of the company and how does it position the company in the market?

The company is a part of our strategic planning that aims to simplify the masses’ access to electric mobility and address the challenges that continue to hamper the industry’s growth. The idea to develop a comprehensive EV solution that addresses not one but four EV-related concerns was driven by our market observation. Over the years, we have identified that businesses that wish to transition to electric mobility often get deterred by the hassles they have to go through.

For instance, to make a switch, logistics and last-mile delivery companies typically had to connect with four or more entities, such as electric vehicle sellers, leasing or EV financing companies, EV infrastructure developers, and software providers. This chain approach not only made the transition lengthy but also expensive.

As a leading player in the EV ecosystem, we felt obligated to offer a solution to help the masses switch to electric mobility without second-guessing their decision. So, we decided to provide four services under one package to make the transition faster and easier, allowing businesses to focus more on their operations. With the Terra Charge Blanket Solution, we aim to strengthen our position as the leading EV ecosystem developer and a catalyst of e-mobility in the country.

Could you elaborate on the key features of Terra Charge Blanket Solution and how it addresses the needs of last-mile delivery and logistics sectors?

Terra Charge Blanket Solution extends four services under one package and aims to help businesses combat the challenges of the EV landscape. Each offering aims to help companies transition to electric mobility and support their needs. The first component of the Terra Charge Blanket Solution is our latest L5 Loader vehicle designed to cater to the needs of logistics and last-mile delivery services.

The package also extends financing for EVs at a lucrative interest rate and minimal documentation to simplify the borrowing process for companies.

Our blanket solution also includes necessary support to install electric vehicle chargers and charging hubs to help EV riders access proper charging facilities and lower their range anxiety issues with more effect.

In addition, the final offering of our comprehensive EV solution is our advanced centralized management software that facilitates real-time tracking and smooth fleet operations. The software is designed to help businesses track their inventory and monitor charging status through dashboards and mobile apps, ensuring efficient charging route optimization.

How does Terra Motors Charging Solutions plan to impact the $2 billion Indian Electric Vehicle market with this comprehensive package?

With our four-in-one solution, we aim to support the growth and evolution of the EV market in India. Each of our offerings under the blanket solutions aims to address specific issues that challenge businesses to switch to electric vehicles. By helping companies access customizable EV solutions, we aim to simplify their transition and accelerate the rate of EV adoption across all segments of society. Our all-encompassing offering places us as a market leader in the EV landscape, filling the gaps in the industry to make EVs a viable mobility solution in today’s world. Rest assured, with our efforts, Terra Motors Charging Solution will effectively address prominent concerns in the electric vehicle landscape and support the government in achieving the ambitious EV goal of 2030.

How does Terra Motors plan to provide more localized solutions to fleet owners and last-mile delivery network partners?

We plan to extend more localized solutions to businesses like fleet owners and last-mile delivery partners by offering them customizable solutions that meet their unique needs. As a market leader, we know that a one-size-fits-all solution rarely works in the EV landscape, especially in India, where every region has unique geographical attributes and specifications. By offering solutions that address their exact concerns, like the lack of EV charging hubs or limited access to EV financing, we aim to empower them to take the next step in going electric.

To achieve this, we are actively collaborating with multiple pro-electric vehicle entities to boost the EV adoption rate in the country. We recently collaborated with the Pune-based SNM Cab, an all-electric ride-hailing service. Under the partnership, we built an exclusive charging station for the SNM fleet near the Pune airport, helping lower their range anxiety issues and downtime. We are currently working on installing four more charging hubs across prime locations. By collaborating with entities who share our vision, we intend to cater to the nation’s evolving need for electric vehicles. Our team is working relentlessly to provide localized solutions to logistics businesses and last-mile delivery network partners that solve their multiple problems.

Our immediate objective is to help entities focus on their operations while we attend to their EV needs and requirements. We are innovating our products and enhancing our service offerings to provide businesses with multiple solutions to choose from and address their specific needs. In 2024, we aim to strengthen our presence beyond major tier-1 and tier-2 cities and support more businesses to embrace EVs without hassles.

What are the anticipated benefits and revenues from Terra Charge Blanket Solution, and how does it contribute to the company's financial outlook, particularly in the Financial Year 2024?

The company anticipates to record an annual revenue of $668,000 for FY24. We are confident that our efforts to boost Terra Charge offerings will add substantially to our projected revenue this year. Meanwhile, we aim to create advanced charging hubs and develop a well-established charging network in and outside the city's proximity. This development will help EV owners to commute across the city and outstation. Once a well-established network is in place, EV owners can use our Terra App to locate Terra Chargers instead of downloading and understanding the protocols of 100 other brand’s applications. In addition, our attractive offers and affordable rates will make us stand out and ultimately generate more revenue in FY24.