Matter to launch EVs, electric solutions in 2021
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Matter, a technology start-up based out of Ahmedabad, has announced that it will launch electric vehicles and a range of energy solutions in India this year.
The company will be enter key Indian cities including New Delhi, Bengaluru, Mumbai, Chennai, Hyderabad, Kolkata, Pune, Lucknow and Chandigarh in stages with differentiated offerings.
A company statement said that since its inception in January 2019, Matter has extensively invested in R&D for development of platforms for electric vehicles and storage solutions technology in stealth mode.
Matter has designed and will manufacture electric motorcycles for the Indian market, it said.
Mohal Lalbhai, Founder and CEO, Matter said: "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 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."
Specifically with regards to energy solutions, Matter 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 systemsas well as non-compete EV products such as battery packs. The products have been designed by an in-house team of researchers and engineers and will also be manufactured by Matter.
Matter will begin retail operations by April 2021 through two distribution channels, business-to-business and business-to-consumer. Initially this will be for its energy solutions (called Matter Energy) and subsequently for its range of electric vehicles (Matter Mobility) in Q4 2021.
In terms of distribution, Matter will enter key Indian markets starting with west, followed by north, south and east through its signature experience centres and later through dealerships across tier 1, 2 and 3 cities, it said.
