Japanese electric two wheeler maker Terra Motors Corporation on Tuesday unveiled an electric superbike, Kiwami, in India priced at Rs. 18 lakh (ex-showroom Delhi).
The company, which plans to start selling the bike in next couple of months, also plans to bring in a premium electric scooter, a range of affordable electric bikes and electric three wheelers into the Indian market.
“Besides, Kiwami, we plan to bring in a premium electric scooter and an electric three-wheeler this year. We will also consider launching affordable range electric bikes in the future,” Terra Motors Chief Executive Officer Toru Tokushige told reporters in New Delhi.
The Tokyo-headquartered firm, which will be importing the superbike initially into the country, is looking to garner 25 per cent market share in the Indian electric bike segment.
“We are targeting 25 per cent market share this year in the electric bike segment. We also plan to invest Rs 30 crore during the year,” Mr. Tokushige said.
The Indian electric bike market is estimated to be around 60,000 units per annum.
The 1000cc Kiwami can cover a distance of 200 km with a single charge and achieve a top speed of 140 km/hr.
Terra Motors, which sold 20,000 electric vehicles in Japan last year, is also in the process of finalising dealer partners in India.
“With immense knowledge of electric vehicles, we will associate ourselves with the dealers who are well experienced in service quality,” Mr. Tokushige said.
Terming India as an important market, Mr. Tokushige said the company wants to be a front runner in the electric two-wheeler segment in the country.
“India is the second largest producer of two-wheelers in the world. Hence it is an important market in our strategic growth plan,” Mr. Tokushige said.