Japanese e-vehicle maker 'Terra Motors' to build $10 Million USD manufacturing hub in Philippines

Philippines & Global Economy

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Manila, Philippines - The Japanese electric vehicle (EV) manufacturer Terra Motors has raised a total of $10 million on its significant round of venture funding to build manufacturing hub in the Philippines as its production factory in Asia and support operations in the region.

According to Terra Motors Corp., the company received funding from investors such as California based Fenox Venture Capital and Japanese firms Mizuho Capital Co. Ltd., Shinsei Bank Ltd., SMBC Venture Capital Co. Ltd., and Aizawa Securities Co. Ltd.

“By this fund raising, we got ready for partnering with Asian business groups,” Terra Motors CEO Toru Tokushige said.

Part of the secured funds would be financed for the production operations in the firm’s factory that is scheduled to rise in Calamba, Laguna.

Source: http://ph.austronesia.net/Japanese-e-vehicle-maker-Terra-Motors-to-build-manufacturing-hub-in-Philippines