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Matter to launch EVs, electric solutions in 2021
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SME Times News Bureau | 29 Jan, 2021
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.
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