Financial Service

IoT×Fintech

Bringing Financial Services to reach maximum People

By offering loan services at the time of EV purchase to lower middle income users facing economic challenges in developing countries. We will provide them with the opportunity to start employment as e-Mobility drivers and lead a better life.

Challenges Faced by Terra Motors' Customer

Low-income users have few opportunities to get out of poverty, and it is difficult for them to break out of the vicious cycle of poverty on their own. The challenge is that there is no mechanism to break this negative cycle.

Terra Motors will be able to provide them with an opportunity
for a better life by bringing financial services to people.

Introducing Terra Finance to support our people

Terra Motors has launched Terra Finance as its own financial service. Through its experience and knowledge of the EV business, Terra Motors has created a system that is beneficial to the company, its sales agents, and end users as borrowers.

Terra Finance Plan

Reduce the Default Rate and Ensure Recovery
Structure：Loan Collateral for the Car Body
Monitor the operation status of vehicles and identify in advance the vehicle body with low operating rate and high default risk

A System Where Risk Minimization and Customer Profit Maximization Coexist

We are currently developing our own mobile application, which we will provide as a gateway to a One Stop Solution. It aims to build a system where all services and businesses can be centrally managed on the device at hand. It reduces the default rate and ensures recovery by monitoring the operation status of vehicles and identifying the vehicle with low operating rate and high default risk in advance.

1. Hedging Risks through the Use of IoT to expand loan base

By using IoT to effectively collateralize car bodies, we will expand our reach to those who cannot take loans due to low income, providing them with a way out of poverty and helping them break the vicious cycle of poverty.

2. Hedging Risks using Digital Payments

As for commercial vehicles, we will digitise and visualise the payments made by users of mobile services, which are the source of repayment. It is to reduce the time and effort required for collection and the risk of loan default, and together with the above, we will build a system to spread financial services to as many people as possible. In the future, the visualised data will be used as collateral to reduce interest rates and increase the amount of loans, providing a mechanism for people to change their lives through their own efforts.

3. Providing New Ways to Earn Money Using Mobility

Maximise profits for both parties by providing new sources of income through strategic and proactive provisioning. It helps reduce risk of company and increases income for borrowers as it advertises with partner companies such as mobility service companies, and by providing new added value to vehicles.

4. Establishing an Ecosystem for Secondary Distribution

In the event of a default, the secondary distribution market is not as well established as the gasoline market, making it risky for businesses and forcing them to charge high interest rates. The aim is to minimize losses in the event of default and reduce the amount of interest charged to borrowers.

Financial Services's Ultimate Goal

Through our business, we aim to build a system that allows more people to create and enrich their own lives by their own power. Regardless of where they were born, their economic situation, or their family environment.

In the future, we aim to solve the problems of the poor in Asia with the power of finance, not only in mobility, but also in various other fields. Moreover, we will use the pow er of finance to help solve the problems of the poor in Asia.

Phase 1

Operations Optimization