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Despite coming from a family that runs textile and chemical businesses, Mohar Lalbhai took a completely new path in a technology-driven business. In 2019 he founded MATTER, a startup in the energy domain that focuses on new-age mobility and energy storage businesses. “Our technology stack has differentiated EVs from traditional internal combustion engines (ICE). We have designed and built our own motors, transmission systems, battery packs and management systems. Today, we are India's first Gear “While we are also building innovative battery solutions for stationary applications that meet the energy needs of a wider range of people,” said says Mohar, a science graduate.
So why did he start this business? “Mobility transformation must be cleaner and more experiential, backed by safety, security, reliability and performance. It happened,” Mohal said.
Commenting on the nature of his concept, Mohar says the mobility space is poised to become experiential and MATTER is at the forefront of new electric experiences. “It has been designed and developed by us and has the unique advantage of having full control over the technology. We are fully prepared to deliver the future of riding.”
MATTER's AERA, India's first geared electric bike, has received 40,000 pre-bookings and deliveries are expected to begin this year. The company's first state-of-the-art manufacturing facility, with an annual production capacity of 60,000 units, is ready for operation and will double its production capacity in the same year. The second mega-manufacturing facility is expected to be completed by 2025, bringing his annual production capacity to 1 million units. In the next five years, the company aims to achieve its annual business target of 1 million EV two-wheelers and record revenue of more than $2 billion.
