Latest news with #Lalbhai
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Business Standard
23-07-2025
- Automotive
- Business Standard
EV startup Matter launches ₹1.93 lakh Aera 5000+ e-bike, eyes IPO
Electric vehicle startup Matter, which launched its Aera 5000+ electric motorcycle in Mumbai priced at ₹1.93 lakh, is positioning the product as a direct alternative to internal combustion engine (ICE) motorcycles in the 150–200cc segment. Backed by US-based venture firm Helena, Matter says its product is designed not to compete with electric vehicles (EVs) but with petrol bikes. Capital 2B, Japan Airlines & Translink Innovation Fund (Canada), SB Invest, and othe₹are investo₹in the startup. Matter aims to take on ICE rivals like the Yamaha R15 V4 (₹1.85 lakh), TVS Apache RTR 160 (₹1.18 lakh), Bajaj Pulsar NS200 (₹1.45 lakh), and KTM 200 Duke (₹2.06 lakh). The Ahmedabad-based startup was in pilot mode until June 2025 and is now expanding across Maharashtra, Gujarat, Karnataka, Tamil Nadu, Andhra Pradesh, and Kerala. It aims to scale up from seven dealerships currently to 150 dealerships by the end of 2026, with a sales target of 50,000 units next year. The company expects to break even in the next three to five yea₹with a monthly run rate of 20,000–25,000 units. The Aera 5000+ comes with a 5 kWh battery and a certified range of 172 km, along with a four-speed manual gearbox—which the company claims is a first for an electric motorcycle in India. The company recently closed a $35 million Series B round, bringing its total funding to $75 million. Matter's post-money valuation now stands at $230 million. It plans to raise an additional $125 million in multiple tranches over the next three to four years, as part of a broader $200 million fundraising plan. 'The funds will be used to expand production, deepen research and development, and scale distribution,' Lalbhai said. 'We are targeting a public listing in the next three to four yea₹once we hit our revenue and growth milestones.' Matter has filed over 350 patents, with core components like the battery pack, gearbox, and powertrain developed in-house. Although the current Aera model uses rare-earth magnets, the company is working with a US-based firm on non-rare-earth motor technologies to mitigate future supply risks. 'India's motorcycle market is largely untouched by electrification. As more consume₹get options like Aera, we believe adoption will accelerate much like it did in scooters,' Lalbhai added.
India.com
23-06-2025
- Automotive
- India.com
Mohal Lalbhai Talks Matter Aera 5000 & India's EV Revolution: Exclusive Insights into the Future of Mobility
In this exclusive conversation, Mohal Lalbhai, Founder & CEO of Matter, delves into the journey behind the Aera 5000 electric motorcycle — from its upcoming production and delivery milestones to the company's long-term EV vision for India. Lalbhai offers valuable insights into Matter's focus on advanced battery technology, localisation strategies, and overcoming infrastructure challenges as the brand aims to redefine the electric two-wheeler landscape. Discover how Matter plans to lead India's transition to smarter, cleaner mobility.
Time of India
22-06-2025
- Automotive
- Time of India
Matter Motor plans new e-bikes positioned against 125cc–150cc rivals, eyes exports by 2026
Ahmedabad-based electric vehicle company Matter Motor is taking a unique approach in India's growing EV market by combining the familiar feel of petrol motorcycles with the electric technology. While electric scooters are becoming popular and roughly make up more than 6% of two-wheeler sales, electric motorcycles still haven't caught on in a big way. Battery-powered motorcycles account for less than 1% of the market. That's where Matter's Aera comes in. In a conversation with TOI Auto, Matter Motor founder Mohal Lalbhai spoke about the thought process behind India's first geared electric motorcycle . He discussed why the company chose to bring back the gear experience in its flagship Aera model, how the brand plans to tap into the mass market, and what makes their EV approach different. 'When we started back in 2019, we really wanted to come down to what it meant for a motorcycle user,' Lalbhai explained, highlighting that traditional motorcycle riders, especially in rural areas, need precise control over power and torque. 'The gearbox came up as one of the most essential things,' he added, noting that on uneven roads and off-road terrains, gearboxes give better traction and responsiveness. This approach contrasts sharply with the growing yet saturated electric scooter segment, which already stands at about 6% penetration in the two‑wheeler market. According to Lalbhai, 'the motorcycle segment is going to grow' as manufacturers begin launching electric bikes. He outlined Matter's expansive roadmap, confirming that the Aera (200cc equivalent) will be followed by 150cc and 125cc models, though the latter may use different technical platforms. 'And for us, the segments that we are seeing going to grow are between 125 to 200 cc,' Lalbhai noted. Pricing remains a common barrier in the EV space, but Matter has tackled this with a bold strategy: full vertical integration. The Aera is priced at Rs 1.94 lakh, ex-showroom, which Lalbhai characterizes as 'quite competitive' when compared to petrol motorcycles of similar displacement. He explained that by avoiding external IP licensing - 'we didn't want to keep paying money towards IP… the biggest leakages of margins' - Matter develops its own hardware, electronics, and software, keeping costs under control. In terms of manufacturing, Lalbhai confirmed that the Aera is '100 percent made in India' except for battery cells, magnets, and semiconductor chips. However, this local thrust includes precise component assembly, electronics integration, and final manufacturing. Matter also holds over 375 patent applications, with more than 70 grants, covering gearbox design, liquid cooling, proprietary charging systems, and more. As for sales and customer convenience, Matter is building a three-pronged network: service, sales, and spares. Importantly, the company is integrating predictive maintenance tools into the Aera. 'We actually get to see how the bike is performing… If something is going wrong, we would be able to proactively reach out to the customer,' Lalbhai shared. Looking beyond India, the company plans to export to Southeast Asia, Africa, and Eastern–Southern Europe next year, though India remains its focus for now. On expanding product lines, Lalbhai said they plan to explore delivery and cargo models around the 125cc equivalent segment in two to three years, aligning with growing demand for light commercial EVs. Accessories and apparel are also on the radar, with plans to support riders with protective gear and bike-specific clothing by early next year. But the immediate focus, Lalbhai said, remains on its core motorcycles and expanding the Aera's presence.
Time of India
22-06-2025
- Automotive
- Time of India
Matter Motor plans new e-bikes positioned against 125cc–150cc rivals, eyes exports by 2026
Ahmedabad-based electric vehicle company Matter Motor is taking a unique approach in India's growing EV market by combining the familiar feel of petrol motorcycles with the electric technology. Tired of too many ads? go ad free now While electric scooters are becoming popular and roughly make up more than 6% of two-wheeler sales, electric motorcycles still haven't caught on in a big way. Battery-powered motorcycles account for less than 1% of the market. That's where Matter's Aera comes in. In a conversation with TOI Auto, Matter Motor founder Mohal Lalbhai spoke about the thought process behind India's first geared electric motorcycle . He discussed why the company chose to bring back the gear experience in its flagship Aera model, how the brand plans to tap into the mass market, and what makes their EV approach different. 'When we started back in 2019, we really wanted to come down to what it meant for a motorcycle user,' Lalbhai explained, highlighting that traditional motorcycle riders, especially in rural areas, need precise control over power and torque. 'The gearbox came up as one of the most essential things,' he added, noting that on uneven roads and off-road terrains, gearboxes give better traction and responsiveness. Matter Aera 5000 plus first look: India's first geared electric bike|| TOI Auto This approach contrasts sharply with the growing yet saturated electric scooter segment, which already stands at about 6% penetration in the two‑wheeler market. According to Lalbhai, 'the motorcycle segment is going to grow' as manufacturers begin launching electric bikes. He outlined Matter's expansive roadmap, confirming that the Aera (200cc equivalent) will be followed by 150cc and 125cc models, though the latter may use different technical platforms. 'And for us, the segments that we are seeing going to grow are between 125 to 200 cc,' Lalbhai noted. Pricing remains a common barrier in the EV space, but Matter has tackled this with a bold strategy: full vertical integration. Tired of too many ads? go ad free now The Aera is priced at Rs 1.94 lakh, ex-showroom, which Lalbhai characterizes as 'quite competitive' when compared to petrol motorcycles of similar displacement. He explained that by avoiding external IP licensing - 'we didn't want to keep paying money towards IP… the biggest leakages of margins' - Matter develops its own hardware, electronics, and software, keeping costs under control. In terms of manufacturing, Lalbhai confirmed that the Aera is '100 percent made in India' except for battery cells, magnets, and semiconductor chips. However, this local thrust includes precise component assembly, electronics integration, and final manufacturing. Matter also holds over 375 patent applications, with more than 70 grants, covering gearbox design, liquid cooling, proprietary charging systems, and more. As for sales and customer convenience, Matter is building a three-pronged network: service, sales, and spares. Importantly, the company is integrating predictive maintenance tools into the Aera. 'We actually get to see how the bike is performing… If something is going wrong, we would be able to proactively reach out to the customer,' Lalbhai shared. Looking beyond India, the company plans to export to Southeast Asia, Africa, and Eastern–Southern Europe next year, though India remains its focus for now. On expanding product lines, Lalbhai said they plan to explore delivery and cargo models around the 125cc equivalent segment in two to three years, aligning with growing demand for light commercial EVs. Accessories and apparel are also on the radar, with plans to support riders with protective gear and bike-specific clothing by early next year. But the immediate focus, Lalbhai said, remains on its core motorcycles and expanding the Aera's presence. Discover everything about the automotive world at Times of India.
Yahoo
03-06-2025
- Business
- Yahoo
EXCLUSIVE: Arvind, Fashion for Good's ‘Near-Carbon-Neutral' Factory Initiative Seeks to Break Industry Paralysis
What will it take for low-impact textile manufacturing innovation to operationalize and scale beyond the 'blah blah blah' of good intentions but lethargic action that has locked the industry in action-plan paralysis? Arvind Limited and Fashion for Good want to find out. The Indian production giant and the Amsterdam innovation platform are at the Global Fashion Summit in Copenhagen this week to solicit support for a new double-pronged initiative, dubbed Future Forward Factories India. More from Sourcing Journal 'The Buyer is God': How Unfair Purchasing Practices Occur 'With Impunity' in India's Garment Industry Labor Department, Which 'Ridiculed Supporting Worker Rights Abroad,' Responds to ILAB Lawsuit Shein's Climate Ambitions Have Been Validated. Now What? Its first part is something the sector is familiar with: an open-source blueprint featuring a portfolio of best-in-class technologies and emergent-but-tested solutions that could collectively slash greenhouse gas emissions at Tier 2 material production by as much as 93 percent. The second, perhaps less so. Arvind and Fashion for Good want to build a demonstration plant that would bring them jointly online, validating not only their environmental benefits but—more important, especially in these cash-strapped times—their business case. The idea, said vice chairman Punit Lalbhai, who oversees Arvind's textile, advanced materials, engineering and agriculture division, is to pivot away from pushing individual technologies' adoption to creating a bundled 'end-to-end concept' that can then be replicated by other suppliers looking to retrofit an existing facility or build one from scratch. Zeroing in on the second tier made easy sense because it's also the highest source of energy, chemical and water use. Emissions-wise, it accounts for 55 percent of the value chain's total pollution, according to numbers crunched by the Apparel Impact Institute. Despite its outsized attention, Tier 1's finished goods assembly, in contrast, contributes only 9 percent. 'I think nothing works better than seeing it with your own eyes and actually experiencing all the value creation that is promised,' Lalbhai said. 'Many of these concepts are innovations. And innovations, by their very nature, are inherently risky to some extent until you know they are proven at scale in real-world conditions without the safety net of small-scale pilot sponsorship.' The dearth of end-to-end demonstration that matches disruptive machinery with the energy transition is one of the reasons the industry gets stuck in pilot mode, said Katrin Ley, managing director at Fashion for Good. Supplying this 'missing step' could combat supplier fatigue, reduce capital and technology risk and overcome implementation challenges, she said. But there's a catch. Building the demonstration plant would cost somewhere in the neighborhood of 30 million euros, or $34 million. Its establishment is still contingent on whether Future Forward Factories India can bridge the 25-30 percent funding gap that remains. Hence, the stumping for investors who can stoke the efforts of on-the-ground partners such as Bluwin, Wazir Advisors, Grant Thornton and Sattva Consulting. Already, the program has the backing of so-called 'catalytic' funders such as the Laudes Foundation, Apparel Impact Institute and IDH The Sustainable Trade Initiative. Finding more will help get the initiative over the finish line and create what Ley calls a multiplying effect that could extend beyond India. 'This is really about co-creation,' she said. 'In the past, we've talked about the issue of brands focusing on assessing suppliers, creating a plan of action, but then seeing the recommended solutions hardly implemented. We want to turn this around and start with, indeed, ambition from the supplier side, but then also to co-create this together with the brands. So both parties have to play a role in making this a reality.' The new factory is poised to save roughly 60 liters of water per kilogram of fabric while operating what Arvind and Fashion for Good say will be the industry's first 'near-carbon-neutral' textile production center. The aim is to churn out 3 million meters of fabric each month, whether natural or man-made, solid or print, knit or woven. Inefficiencies due to poor forecasting will be tackled by layering in more responsive, just-in-time manufacturing with the typical mass-scale production, which could help mitigate overproduction—another major contributor of emissions. Lalbhai estimates that it will take about a year to build, depending on where the facility will live and the type of existing utilities—ideally wind and solar—that it will be able to tap into. But they're ready to start work whenever the money to do so comes in. The blueprint has a more immutable deadline: September. Arvind and Fashion for Good aren't naming names right now but the technologies will span a gamut, from low-temperature enzyme pre-treatment to waterless dye carriers to heat and water recovery systems. Together they could drive as much as a 30 percent reduction in steam, 41 percent in water and 33 percent in electricity. Innovation will be behind the planned minimization of chemicals. A similar approach is set to improve wastewater quality so less treatment is required when it flows out of the plant. 'We have everything ready to go,' Lalbhai said. 'We have actually a few technologies coming in, irrespective of whether the funding comes or not. But we'd like to bring this life in its full completeness, so the funding is a very important piece for us to begin.' Future Forward Factories India also has a human component. A portion of the blueprint will be dedicated to helping workers achieve what is known as a 'just transition.' This means incorporating training and development in what Lalbhai described as a 'unversity-type situation' that can help upskill employees, allowing them to move into more sophisticated manufacturing jobs—or leave the textiles trade altogether. 'We are going to introduce programs that help people to go to better-earning opportunities, so that we have predictable, planned attrition with always a batch leaving and a batch coming, with the batch that's leaving at hopefully more than double the earning potential of the incoming batch,' he said. 'And I think it's also an opportunity to show how textile manufacturing, which is one of the largest employment creators in the developing world, has an opportunity to be rebranded in terms of how it's perceived as an employer.' Arvind and Fashion for Good are holding onto the hope that despite the economic tumult caused by geopolitical strife and exacerbated by President Donald Trump's whipsawing tariffs, brands remain committed to their climate targets despite the high investment costs and the less tangible payback. If nothing else, the initiative is 'super attractive' in terms of marginal abatement costs, said Ley, referring to the price of reducing one unit of carbon. The European Union's forthcoming carbon border adjustment mechanism, intended to place a fair price on the greenhouse-gas content of imported products at its border, could provide further tailwinds. While Lalbhai declined to name Arvind's buyers, only saying that it's 'very indexed' on North America, followed by Europe, the manufacturer appears on the public supplier lists of boldface names such as Gap Inc., Levi Strauss & Co., Hugo Boss and Marks & Spencer. Whether it can get the buy-in it needs is now the biggest question. 'We're trying to fast-forward the pace of change,' Lalbhai said. 'I think it's extremely important that we shed this idea of incrementalism and step into something that can bring change at the pace the world needs.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
