To scale manufacturing, boost research and development, and strengthen brand presence, EV motorcycle maker MATTER is stepping up its India electric motorcycle push.
Ahmedabad based electric motorcycle startup MATTER Motor Works plans to invest $100 to $150 million over the next three years to scale manufacturing capacity, strengthen research and development, and build brand presence as it steps up its push into India’s untapped electric motorcycle market.
In an exclusive interaction with Fortune India, Mohal Lalbhai, Founder and Group CEO of MATTER, said the fresh capital deployment will build on the nearly $100 million already invested since the company’s inception in 2019. The funds will be channelled towards product development, research and development, marketing, and manufacturing expansion. The planned investment also includes setting up a second manufacturing facility, in addition to the existing Ahmedabad plant which has an annual capacity of 1,20,000 units.
The investment plans were outlined on the sidelines of MATTER’s Technology Day 3.0 in New Delhi, where the company unveiled India’s first AI Defined Vehicle platform. MATTER said the platform marks a shift towards intelligence led electric vehicles, with a scalable roadmap covering multiple products over the next 36 to 48 months. The architecture is expected to enhance performance, efficiency, safety, and lifecycle value, while supporting the company’s sustainability initiatives.
Lalbhai said MATTER aims to sell 3,00,000 units annually by 2029 and plans to enter overseas markets by 2027. The company intends to roll out four electric motorcycles across different segments and later enter the electric scooter market. Its product pipeline includes a 150 cc equivalent motorcycle in 2026, a 125 cc equivalent in 2027, and additional variants through 2028 and 2029.
