Monday, July 16, 2012

No. 563: Japanese electric motorcycles are ready to go abroad (July 16, 2012)

Business trend:
Terra Motors, Japan’s leading maker of electric motorcycles, will develop foreign markets. As the first step, the company plans to export its products to Korea and Mexico. It already received orders for 100 units of its SEED series. Later, it will go to Europe and African. The models it plans to put on foreign markets are the basic model SEED 48 priced at 99,800 yen and its higher-grade model SEED 60 prices at 149,800 yen. These two models are characterized by excellent fuel economy. They need a fuel cost that is about from one sixth to one tenth of a gasoline motorcycle.

Although Terra Motors has focused on the domestic market, it decided to cultivate foreign markets in view of the growing demand for fuel-efficient electric motorcycles worldwide. With the background of increasing fuel cost in Europe, it has received inquiries from Europe including Greece. The company is planning to launch a new electric motorcycle to be positioned as the strategic model for the world market within the year. It wishes to increase its worldwide sales of electric motorcycles for the year ending March 2013 by 3.3 times to more than 10,000 units.    

An electric motorcycle from Terra Motors

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