Companies

Matter plans to launch EV two-wheelers in Q4 2021

Our Bureau Ahmedabad January 28 | Updated on January 28, 2021

Started in January 2019, Matter has developed technology platforms for EVs and storage solutions

Ahmedabad-based tech start-up Matter plans to launch electric vehicles and a range of energy solutions during 2021.

Started in January 2019, Matter has developed technology platforms for EVs and storage solutions. The EV will be launched in the fourth quarter of 2021. The motorcycles - in mass-premium category - will be applicable for FAME II subsidies.

Matter will begin retail operations by April 2021 through two distribution channels (B2B and B2C). Initially it will retail its energy solutions (called MatterEnergy) and subsequently go for range of electric vehicles (MatterMobility) in Q4 2021.

Mohal Lalbhai, Founder and CEO, Matter said, “We have set a target of $1 billion top line by 2025. Matter will be manufacturing these motorcycles at its local plant in Ahmedabad prior to mass distribution across the country.”

Also read: Towards a fossil-free India

Company plans to manufacture its electric motorcycles at its facility at Ahmedabad. The initial production capacity will be 60,000 units per annum. It looks to enter markets of New Delhi, Bangalore, Mumbai, Chennai, Hyderabad, Kolkata, Pune, Lucknow and Chandigarh in a phased manner.

All the powertrain components for Matter’s products have been designed by its team and sourced locally.

Matter is also producing its battery packs for inhouse consumption and will also supply these to customers in non-compete EV segments and storage applications, a company statement said.

For energy solutions, the company will offer both consumers and enterprise clients a range of energy storage products and solutions including- large scale energy storage applications such as solar home lighting systems, home inverters, UPS systems as well as non-compete EV products such as battery packs.

Published on January 28, 2021

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