Terra Motors, Rahimafrooz venture will give confidence to Japanese investors in Bangladesh: Executives

A leading Japanese electric vehicle company has announced it is joining forces with Bangladesh’s Rahimafrooz to produce “high-quality” battery.

Terra Motors’ collaboration began in March, but it was announced on Saturday.

Sales Director Akihiro Ueda, at a press briefing, said they were confident about continuing business operations in Bangladesh despite the July 1 terrorist attack.

Seven Japanese were among the 20 hostages killed in the siege.

He said he felt it an “obligation” to give confidence to fellow Japanese entrepreneurs to work in the development of Bangladesh by continuing their operations here.

The investment would “totally depend on the ability and feasibility of the total venture,” he said, replying to questions.

The ultimate goal of this joint venture is to improve ‘Easy Bike’ driver’s life by serving good quality battery all over Bangladesh.

Head of Marketing & Business Development of Rahimafrooz Storage Power Division Faraaz A Rahim said there were 450,000 electric vehicles in Bangladesh.

Divisional COO Sayeed Hassan explained that the total load of those electric vehicles was only 3 to 4 percent of the power generated in Bangladesh.

“Besides this is an off-peak load which is actually desirable for the grid,” he said as he tried to answer the question of energy drain due to those vehicles charging battery.

“It is a win-win proposition from various angles like employment generation and environmental improvement with commercial viability,” he said.