A study of drivers in Assam, Bihar and Jharkhand (4,676 at purchase, 1,261 at six months). Median monthly income rose 58%, and 79.9% gained access to formal financial services.

Terra Motors Co., Ltd. (Head office: Minato-ku, Tokyo; President and Representative Director: Masanori Takahashi) has published “Impact Report 2025,” documenting the social impact of its electric three-wheeler business in India.

Drawing on a study of drivers in Assam, Bihar and Jharkhand (4,676 responses at purchase and 1,261 in a six-month follow-up), the report sets out changes in income, financial access and daily life, alongside the stories of named drivers.

Background

In India, electric three-wheelers have spread rapidly as a means of livelihood for low- and middle-income households. Terra Motors operates across India through a network of more than 420 dealer locations (including sub-dealers), and its vehicles have travelled 1,432,230,000 km entirely on electricity (as of the end of March 2026). This report examines what happened to the drivers who bought those vehicles, and to their families. Terra Motors carried out the work end to end, from study design to field interviews.

Key findings

• Median monthly income rose 58% after purchase
• 98% of drivers reported feeling a change in their income
• For 85%, it was their first electric vehicle
  

(Study outline: conducted from 2024 to May 2026 / Assam, Bihar and Jharkhand / 4,676 questionnaire responses at the point of purchase, a 1,261-driver telephone follow-up at six months, and 15 in-depth face-to-face interviews)

Driver stories

With their consent, the report carries the stories of named drivers.

Hari Om Kumar, 18, East Champaran, Bihar

Marriage prompted him to buy a vehicle of his own. His daily earnings roughly doubled, from INR 400–500 to INR 800–900. “Good company, good vehicle. The earnings are good too. I would recommend it to anyone.”

Pradeep Kumar Chaudhary, 47, Dhanbad, Jharkhand

He switched from a diesel three-wheeler, and what had been going to fuel now stays in his hands. He earns INR 1,000–1,200 a day.

Financial access and environmental impact

• 79.9% of drivers gained access to formal financial services for the first time through the purchase of their vehicle
• Cumulative lending through Terra Finance reached USD 18,329,252, of which 63% went to borrowers with no prior credit history, known as New-to-Credit (as of the end of March 2026)
• Cumulative CO₂ emissions avoided reached approximately 132,000 metric tons, measured against diesel vehicles (as of the end of March 2026)
  
  

Comment from the President

One electric three-wheeler changes the finances and the future of one family. That, accumulated, is what our business is. This report holds a finding — a 58% rise in median monthly income — and the fifteen family stories inside that number. Families who bought their own vehicle with their first loan, and who can now invest in their children’s education, are becoming a visible presence on India’s roads. We intend to carry that change across the whole of India.

< “Impact Report 2025” is available on our website. >

• English:
• Japanese:

< Company profile >
– Company: Terra Motors Co., Ltd.
– Head office: 5F Oak Takanawa, 2-17-11 Takanawa, Minato-ku, Tokyo 108-0074, Japan
– Representative: Masanori Takahashi, President and Representative Director
– Founded: 2010
– Business: An electric three-wheeler manufacturer born in Tokyo, operating across India through a network of more than 420 dealer locations. Beyond selling vehicles, Terra Motors provides financing and battery warranty as one integrated offering, under the belief that the power of EVs should become the potential of people.


< Media contact >

• Email: pr@terramotors.co.jp