Matter, an electric vehicle and energy storage startup, unveiled a geared electric motorcycle. Sales of this motorcycle will begin next year.
The Ahmedabad-based firm plans to begin bookings for the model and start deliveries in April next year.
In the next 12 months, 200 dealers will be open in major cities. The startup also plans to export its products to Latin America, Africa, and Asia in the next 2 years.
Mohal Lalbhai, founder and CEO of Matter Group, said that the company intends to fill a void with other players who primarily concentrate on electric scooters.
“India rides on bikes. Bikes account for 1.4 to 1.5 crore of the 2 crore two-wheelers that are sold annually in India. How will the change happen towards electric if we continue to focus only on the scooter segment? He stated that this is why we decided to get a geared electric bicycle.
He said that the vertical has tremendous growth potential, as there is currently no major player in electric bike segments.
“Our internal goal is to scale up faster because it’s a vacant segment. Lalbhai stated that nobody is present in this 40 lakh per year segment.
A simple 5 Amp plug can charge the bike which has a range between 125 and 150 km with a single charge. Lalbhai stated that the company has completed 50 sales outlets and plans to open 200 more in the next year.
He answered a question about his export plans and said that “In two years we plan to take this product internationally. There are many opportunities in Asia, Latin America, and Africa.”
Matter established a manufacturing plant in Ahmedabad that has a production capacity of 60,000 units annually. This facility could be scaled up to 1.5 to 1.7 lakh units.
The company claims that the bike is the first geared electric bicycle in the country. It comes with liquid-cooled technology, 5 kWh power, and other connected features.