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Monday, January 17, 2022

Ahmedabad-based EV startup may launch its first electric two-wheeler by the middle of 2022

Keeping in view the demand of the times, the market of Electric Vehicle (EV) has increased a lot. While old companies are trying to catch up in this field, some new start-ups are also coming to try their luck in this. One such startup named Matter is preparing to enter the field of electric two-wheeler. Not only this, it can introduce its first electric two-wheeler by the end of the first half of the year 2022. Matter is an electric mobility and energy storage solutions start-up based in Ahmedabad.

Mohal Rajiv Lalbhai, Founder and CEO, Matter, recently told Business Standard, “Given the current and growing demand for electric mobility as well as energy storage, Matter has expanded its footprint from 60000 vehicles per year in the first phase. We have decided to increase the manufacturing footprint to 200,000 in the second phase. We have just completed the installation of 200 MW plant for the battery and production will start in January 2022. Similarly we will be rolling out our first electric motorcycle by the first half of 2022. Considering getting out.”

As part of its production and roll-out plan, the company has signed a Memorandum of Understanding (MoU) with the Gujarat government for an investment commitment of Rs 1,500 crore. This commitment to invest in next-generation electric mobility and energy storage solutions over a period of five years will demand more than 4000 recruits.

Elaborating on the investment issue, Lalbhai said that out of Rs 1500 crore, Rs 1,200 crore would be invested in electric mobility and Rs 300 crore in energy storage.

With the first phase of 60,000 vehicles per year under development, Matter will spend on building its research and development in core technology as well as infrastructure in and around Ahmedabad. Its division, Matter Energy, is building a roadmap for larger systems by the end of 2022. Simultaneously, it is in the process of developing battery back-up applications for domestic as well as industry. This commitment of Rs 1500 crore investment of the startup will continue till 2026.



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Damini Sharma
Experienced Senior Content Writer with a demonstrated history of working in the information technology and services industry. Skilled in SEO Copywriting, Web Content Writing, Storytelling, Blogging, and Social Media. Strong media and communication professional with a mass communication focused in Journalism from Sjmc davv indore.
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