Tech Startup Matter To Launch EV Two Wheelers For India

Gujrat based tech startup – Matter has announced that it is set to launch its electric vehicles (EVs) and a range of energy solutions in India in 2021. The company will be producing electric two-wheelers (E2Ws) and setting up its market in major Indian cities, including New Delhi, Bengaluru, Mumbai, Chennai, Hyderabad, Kolkata, Pune, Lucknow, and Chandigarh in the fourth quarter (Q4) of 2021.

Founded in 2019, Matter’s vehicles will be eligible for FAME-II subsidies, said Matter founder and chief executive officer Mohal Lalbhai. Matter will manufacture its electric motorcycles at its plant in Ahmedabad with an initial production capacity of 60,000 units per annum.

However, it will begin retail operations by April 2021 through B2B and B2C distribution channels. Initially, it will be distributing its energy solutions under the division ‘Matter Energy’, followed by launch EV motorcycles under ‘Matter Mobility’ in Q4 2021.

Matter is also producing its battery packs for in-house consumption and will also supply these to customers in non-compete electric vehicle segments and storage applications, as the company said.

Speaking of their new production, the CEO, Mohal Lalbhai stated, “The focus of Matter through design and engineering will be to create products and services well suited for the Indian user. We have set a target of 1 billion USD top line by 2025.”

“Our vehicles are well aligned with India’s strong demand for clean mobility and Matter will be manufacturing these motorcycles at its local plant in Ahmedabad prior to mass distribution across the country,” Lalbhai added.

Concurrently, for energy solutions, Matter is planning to provide 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.