 "Terra Motors joins hands with FCC Corp to develop EVs, parts in India")
Japanese electric vehicle maker Terra Motors Corporation on Tuesday said it has joined hands with FCC Corporation to collaborate on the development of futuristic electric vehicles for global markets while utilising Indian operations as the base for the activity.
Japan-based FCC is a global market leader in motorcycle clutches, with 22 production facilities spread across various countries.
In building a business foundation in Asia, we will provide two customer values: EV bodies that are more economical than gasoline vehicles and brand value that evokes a new lifestyle.
To this end, we aim to increase new business value through co-creation with services and businesses, such as the advancement of vehicle technology, the improvement of convenience through innovative Internet of Things (IoT), and shared mobility," Terra Motors India CEO Akihiro Ueda said in a statement.
The company is aiming to increase new business value through co-creation with services and businesses, such as shared mobility, he added.
For Terra Motors R&D is topmost priority especially for emerging markets like India where it has a stronghold in the three-wheeler (3Ws) EVs, the company stated.
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With the government aggressively implementing measures to expand the use of EVs to address social issues such as air pollution as well as to promote economic growth, the light-mobility market is experiencing rapid EV expansion.
The collaboration with FCC comes in the light of Terra Motors' active work towards building the foundation for a sustainable mobility industry globally.
Christened as Terra Motors Next - the focus of the brand is to build an ecosystem for e-mobility in India and globally for greater good of the society.
Commenting on the tie up, FCC President Yoshitaka Saito said both the companies can contribute by combining their individual strengths.
The partners would look at the development of an electric power unit suitable for the market to accelerate the commercialisation of light mobility options and to respond to the future shift to EVs in the Asian region, he added.
Tokyo-headquartered Terra Motors is the leader in electric two and three-wheelers in Japan. It also has presence in various Southeast Asian countries like Vietnam and the Philippines.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)